Thermo Fisher buys MTI-GlobalStem upping stem cell and reagent offering
The acquisition of Gaithersburg, Maryland-based MTI-GlobalStem – financials of which were not divulged – will see Thermo Fisher strengthen its cell transfection, neurobiology and stem cell portfolio.
The deal was described as “a strategic acquisition” by Alexander Hannay, senior product manager for Cell Biology at Thermo Fisher, who told Biopharma-Reporter it will boost the firm’s ability to “better help its customers accelerate discovery in the development of disease models for drug screening, cells as factories for early development of biological drugs, and cell-based therapies.”
Transfection reagents for stem cells, neurons and hard-to-transfection primary cells, will be added to Thermo Fisher’s portfolio through the deal, along with primary and human iPSC-derived neural cells, growth media, supplements and growth factors for optimal cell culture
“Our current priority is to maintain product offering and customer service levels for both MTI-GlobalStem and Thermo Fisher Scientific customers, while we work together to integrate and leverage capabilities and resources of MTI-GlobalStem for maximum customer benefit.”
In a letter to its customers, MTI-GlobalStem’s founder Joel Jessee and general manager Amy Butler said the merger will bring benefits to its customers and they hope to deliver a seamless transition.
“To ensure continuity, we are taking a phased approach to integrating our commercial processes. In the near term, there is no change in how you work with the MTI-GlobalStem team,” the letter said.
“Our product offering, ordering system and your contacts with the business will remain the same. In addition, your existing contracts will continue to be honored in accordance with their terms. Over the next year, as we work to integrate the two companies, we will communicate any changes to you in a timely fashion.”
Thermo Fisher has been pursuing a steady M&A strategy in its life sciences business over the past few years, with today’s news being the latest in a string of deals.
The firm paid $1.3bn in January for biological analysis toolmaker Affymetrix, while in 2015 it bought single-use bioprocessing systems firm ASI.
To date, the firm’s largest acquisition in the space was 2014’s $13.6bn Life Technologies deal, though earlier this year Thermo Fisher was rumoured to be looking to buy sequencing firm Illumina for up to $30bn.