Swedish immunoassay developer and supplier Gyros is set to merge with Arizona-based Protein Technologies (PTI), creating a company specialising in protein and peptide synthesis tools, reagents and consumables.
“Both Gyros and PTI teams were looking to create a larger, fast-growing and profitable protein-based tools company that can leverage their respective product portfolios in the biotherapeutics discovery, development and bioprocess markets,” Gyros’s CEO Dan Calvo told Biopharma-Reporter.com.
Calvo – who will take the helm at the new entity, Gyros Protein Technologies – said both companies will benefit from increased efficiencies in administrative functions, a larger, more efficient global sales and service footprint, as well as enhanced R&D capabilities and instrument manufacturing.
“Our vision is to create a leading peptide/protein tools company of more than $50m value with attractive EBITDA margins, by developing market-leading products and focusing on solid growth, both through organic growth and via strategic acquisitions.”
Clients of the two companies will benefit from faster development of new innovative platforms, reagents and consumables, Calvo continued, adding an expanded global sales and service organisation would lead to an end-to-end service.
“From discovery to preclinical development to clinical trials and manufacturing, customers utilise Protein Technologies' peptide synthesizers to make high quality, complex biopeptides. Those biopeptides are then used by bioanalytical and bioprocess groups to develop and validate immunoassays, which can be done effectively on Gyrolab platforms.”
The deal is set to be completed in the next 30 days, but the Calvo told us the growth ambition would continue post-merger.
“The vision for Gyros Protein Technologies is to maintain a market leading position as a provider of sample prep, synthesis and bioanalytical tools for biotherapeutics discovery, development and manufacturing, and maximise the market opportunity, which exceeds $1bn,” he said.
Furthermore, he added: “The Company and its Board of Directors is actively seeking opportunities to build Gyros Protein Technologies both through organic growth and via strategic, synergistic acquisitions.”