Biotage acquires Phynexus in $21.5m deal

11-Dec-2018 - Last updated on 11-Dec-2018 at 15:26 GMT

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Biotage will add PhyNexus’ platform for higher throughput purification at lab-scale.

Biotage’s acquisition of PhyNexus is expected to strengthen its positions as a separations company in the biomolecule arena.

Per the agreement, Biotage can provide an enabling automation platform to its global customers. The platform is based on dual flow chromatography and uses a patented tip technology for higher throughput purification of biomolecules at lab-scale.

Chromatography and attached platforms to strengthen chromatography units have been a recent addition to facilities across the biopharmaceutical industry as of late.

This testing service is in combination with high throughput pipetting robotics and its new media development program.

The acquisition will cost Biotage $21.5m (€18.8m). The company stated that it will finance the transaction through the issues of 487,337 new shares. The rest will be completed with ‘cash at hand’.

New shares will be issued to the main shareholders of PhyNexus and additional shares may be issued in connection with post-closing price adjustments and earn-out payments. The share and cash transaction is expected to be completed in January 2019.

GE Healthcare recently added a fiber-based purification platform to its chromatography portfolio. BIA Separations also expanded its manufacturing site to further enable its chromatographic products and increase its capabilities in upstream and downstream processing.