BroadOak’s Q3 Quarterly Review analyzes market trends and M&A deals across life science tools, diagnostics, and services sectors. Read our full Quarterly Review for more information.
JMI Announces Sale to Element Materials Technology
BroadOak Partners advises JMI Laboratories (“JMI”) on the sale of the company to Element Materials Technology (“Element”). JMI is a leading provider of antimicrobial drug development, molecular testing, clinical trial support, and surveillance services to biotech and pharmaceutical companies.
BroadOak provides $8M loan to Interpace Biosciences
BroadOak Capital Partners provided a senior term loan to refinance debt held by Interpace’s private equity stockholders, Ampersand Capital and 1315 Capital. Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.
Nanosyn Sells to Element Materials Technology
BroadOak Partners advises Nanosyn on the sale of the company to Element Materials Technology (“Element”). Nanoysn is a full-service drug discovery CDMO that provides chemistry, biology, API, and formulation services to pharmaceutical companies.
BroadOak leads acquisition of Particle Dynamics
An investor group led by BroadOak Capital Partners acquired Particle Dynamics from Edgewater Capital Partners. Particle Dynamics is a global leader in particle processing, delivery technologies, and finished dose manufacturing for the pharmaceutical, over-the-counter, and nutraceutical markets.
PBS Biotech Raises $10M to Provide Scale-Up Manufacturing Solutions for Cell Therapies
Single-use bioreactor manufacturer, PBS Biotech, recently closed a private $10M funding round with BroadOak Capital Partners. The financing will enable the company to expand and industrialize its portfolio of single-use bioreactor systems and contract process development services.
BroadOak Q2 M&A Newsletter
BroadOak’s Q2 Quarterly Review analyzes market trends and M&A deals across life science tools, diagnostics, and services sectors. Read our full Quarterly Review for more information.
Vigene Biosciences Acquired by Charles River Laboratories
BroadOak portfolio company Vigene Biosciences was acquired by Charles River Laboratories. Vigene Biosciences is a leading CDMO providing viral vector manufacturing services for the cell and gene therapy market.
Kromatid Receives $2M Investment From BroadOak Capital Partners
BroadOak Capital Partners invests growth capital in KromaTiD. KromaTiD sells structural genomic products and tech-enabled services to optimize gene editing for research and clinical purposes. The funding will help accelerate the commercialization of its recently launched direction genomic hybridization In-Site and SCREEN products for gene editing and gene therapy applications.
KCAS Sells to Vitruvian
BroadOak Partners advises KCAS Bioanalytical and Biomarker Services (“KCAS”) on the sale of the company to Vitruvian. KCAS is a leading contract research organization providing comprehensive GLP-compliant bioanalytical and biomarker development testing services for the biotech, pharmaceutical, and animal health industries.
BroadOak leads investment in Genomenon
Genomenon announced that it has completed a $5.3M financing round in the company. The financing will enable the company to expand its commercial operations, which serve genetic testing labs, hospitals, pharmaceutical and biopharma companies.
Distributed Bio Acquired by Charles River Laboratories
BroadOak portfolio company Distributed Bio was acquired by Charles River Laboratories. Distributed Bio is a provider of innovative antibody discovery, engineering, informatics tools, and services for the life sciences research and drug discovery markets.
Bryan Poltilove Joins BroadOak Capital Partners Team
BroadOak Capital Partners is pleased to announce the addition of Bryan Poltilove to its growth capital investing team, where he serves as a Managing Director. Mr. Poltilove joins BroadOak from Thermo Fisher Scientific and brings with him significant domain and operational expertise. Most recently as a Vice President at Thermo Fisher, Mr. Poltilove built and led a new business segment to integrate the company’s capabilities in cell and gene therapy. He also served as General Manager for Thermo Fisher’s $200 million Clinical Diagnostic Reagents business. Prior to Thermo Fisher, Mr. Poltilove served as Director of Revenue Strategy & Operations for the Corporate Executive Board and held several commercial strategy roles with Johnson & Johnson. He holds B.S. degrees in Chemical Engineering and Economics from MIT as well as an MBA from Northwestern University’s Kellogg School of Management.
InFuse Holdings Closes Series A Financing and Acquires Horizon Infusions
BroadOak leads the formation and funding of a new ambulatory infusion platform, InFuse Holdings, to build a network of infusion centers throughout the Midwest. Initial funding used to acquire Cincinnati-based Horizon Infusions and provide growth capital for its expansion.
Akron Biotech acquired by Arcline Investment Management
BroadOak portfolio company Akron Biotech was acquired by Arcline Investment Management. Akron is a provider of GMP-compliant cell-/gene-therapy and engineered tissue products and services.
Cenetron Sells to Versiti
BroadOak Partners advises Cenetron Diagnostics (“Cenetron”) on the sale of the company to Versiti. Cenetron provides central laboratory services to support global clinical trials for biopharmaceutical, diagnostic, and contract research organizations.
Astero Bio Sells to BioLife Solutions
BroadOak Partners advises Astero Bio Corporation (“Astero”) on the sale of the company to BioLife Solutions. Astero is a provider of innovative tools that improve the quality of high-value cell and gene therapies.
Reaction Biology Acquires ProQinase GmbH
Reaction Biology Corporation (“RBC”), a BroadOak portfolio company, completes a stock swap transaction whereby RBC acquires all the shares of ProQinase GmbH, an early stage drug discovery company based in Freiburg, Germany. RBC is an early stage drug discovery CRO specializing in biochemical and cell-based assay services.
BioInformatics Acquires Kalorama Information
BioInformatics, a BroadOak portfolio company, acquires Kalorama Information, a leading market research publisher focused on the in vitro diagnostics, biotechnology, healthcare, medical device, and pharmaceutical markets.
Distributed Bio Enters Into Exclusive Partnership With Charles River Laboratories
Distributed Bio, a BroadOak portfolio company, will provide Charles River Laboratories’ clients access to Distributed Bio’s antibody libraries and integrated antibody optimization technologies. Distributed Bio is a provider of antibody discovery, engineering, informatics tools, and services for the life sciences research and drug discovery markets.
DANI Instruments Sells to PerkinElmer
BroadOak Partners advises DANI Instruments (“DANI”) on its sale to PerkinElmer. DANI is a provider of advanced gas chromatography instruments and systems for food analysis, pharmaceutical, and environmental applications.
LifeSpan Biosciences Sells to Thompson Street
BroadOak Partners advises LifeSpan Biosciences (“LSBio”) on the sale of the company to Thompson Street Capital Partners. LSBio provides antibodies and life science reagents to the academic and pharmaceutical research markets through its proprietary e-commerce platform.
Astero Bio Acquires Key Assets from MedCision
BroadOak-backed Astero Bio, a leading developer of biologics cryopreservation solutions, acquires key assets and rights related to MedCision, LLC’s ThawSTAR cell thawing system and BioT cold storage and transport solutions.
BioInformatics Acquires IMV Publishing
BioInformatics, a BroadOak portfolio company, acquires IMV Publishing, a leading market research and online publishing business focused on the medical imaging and clinical diagnostic instruments markets.
Lucigen Sells to LGC
BroadOak Partners advises Lucigen Corporation on the sale of the company to LGC Limited. Lucigen is a leading provider of molecular biology enzymes, reagents, and kits for high growth applications in clinical diagnostics, drug discovery, synthetic biology, and gene editing.
Linkage Sells to Thermo Fisher
BroadOak Partners advises Linkage Biosciences on the sale of the company to Thermo Fisher Scientific. Linkage Biosciences is a provider of molecular diagnostic technologies that enable complex genetic testing for transplantation and transfusion applications.
Trinean Sells to Unchained Labs
BroadOak Partners advises Trinean on the sale of the company to Unchained Labs. Trinean is a provider of instrumentation and analytical software that measures concentrations of protein, DNA, and RNA in biologic and genomic samples.
LabConnect Announces $24.5 Million Financing Round
BroadOak Partners acted as the exclusive placement agent for LabConnect’s $24.5 million Series A financing round to fuel growth initiatives, including additional build-out of the technology platform, product and service enhancements, and sales team expansion, as well as to provide liquidity to early shareholders. The round included participation from ABS Capital Partners, a leading late-stage growth company investor, Pablo Capital, and an affiliate fund of BroadOak Capital.
Rubicon Genomics Sells to Takara Bio
BroadOak Partners advises Rubicon Genomics on the sale of the company to Takara Bio. Rubicon Genomics is a provider high quality, nucleic acid library preparation and companion products for next-generation DNA sequencing.
MTI-GlobalStem Sells to Thermo Fisher Scientific
BroadOak Partners advises MTI-GlobalStem on the sale of the company to Thermo Fisher Scientific Inc. MTI-GlobalStem is a provider of leading-edge technology and reagents for cell transfection, neurobiology and stem cell research applications.
Brooks Automation Announces the Acquisition of Cool Lab, LLC
BioCision, LLC, a BroadOak portfolio company, has divested its Cool Lab subsidiary to Brooks Automation, Inc. (Nasdaq:BRKS). Cool Lab, LLC provides a range of innovative, patented, and/or patent-pending applications for sample cooling and freezing, controlled rate freezing, portable cryogenic transport and archival storage solutions for customers’ temperature sensitive workflows.
GTCR and Maravai Complete Acquisitions of TriLink Biotechnologies and Cygnus Technologies
BroadOak Partners advises Maravai LifeSciences, Inc., a partnership including GTCR, a leading private equity firm, on the acquisition of two Life Sciences companies to expand Maravai’s strategy in specialty research reagents and add a bioprocessing leader.
Antibodies-online GmbH Raises Growth Capital
BroadOak provided growth capital financing to antibodies-online GmbH, a leading digital marketing and e-commerce platform for the distribution of life sciences research products, in order to support continued development of their e-commerce platform and their recent expansion into the genomics market through the launch of genomics-online.com.
Bioo Scientific Sells to PerkinElmer
BroadOak Partners advises Bioo Scientific Corporation on the sale of the company to PerkinElmer, Inc. Bioo Scientific is a leading provider of food safety tests sold into food processing and animal feed markets, and next generation sequencing reagents sold into the life science research markets.
Clarity Sells Ophthalmic Imaging Business to Natus Medical
BroadOak Partners advises Clarity Medical Systems, a leading provider of clinical ophthalmic technologies, on the sale of its RetCam Ophthalmic Imaging System business to Natus Medical, Inc.
GTCR and Maravai Complete Strategic Equity Investment in Vector Laboratories
BroadOak Partners advises Maravai LifeSciences, Inc., a partnership including GTCR, a leading private equity firm, on a strategic equity investment in Vector Laboratories, Inc. a provider of life science products, including labeling and detection reagents, that help medical and scientific researchers visualize cells in experiments which are central to the understanding of cancer and other diseases.
LabConnect Raises $4.0 million to Fund Growth Targets
The BroadOak Fund III has completed a $4.0 million investment into LabConnect, LLC, a leading global provider of central laboratory and support services for biopharmaceutical, medical device and contract research organizations.
AdvanDx Sells to OpGen; OpGen Secures $6M in Financing from Merck GHI Fund
BroadOak Partners advises AdvanDx, a developer of rapid molecular tests for the diagnosis and treatment of life-threatening infections, to OpGen. As part of the transaction, OpGen also secured $6 million in financing from the Merck Global Health Innovation Fund (Merck GHI).
Rubicon Genomics Raises $2m to Support Strong Growth Momentum
BroadOak Capital Partners led the round, joined by Research Corporation Technologies. The Ann Arbor, Michigan-based sample prep firm said it will use the proceeds to develop new and existing products, including its ThruPlex Plasma-seq liquid biopsy kit, and to add to its sales and marketing.
Diagnostic Biosystems Raises Growth Capital to Support Continued Expansion
The BroadOak Fund, an affiliate of BroadOak Capital Partners, provided financing to Diagnostic Biosystems to support continued expansion and growth.
Spectra Analysis Instruments, Inc. Sells to DANI Instruments Group
BroadOak Capital Partners, through its affiliate the BroadOak Fund, successfully exited its investment in Spectra Analysis Instruments, Inc. upon sale of the business to DANI Instruments Group.
Orflo Closes Growth Capital Investment
BroadOak Capital Partners, through its affiliate the BroadOak Fund, lead a $3.0 million financing for Orflo Technologies, an innovator of cell analysis and flow cytometry solutions.
BroadOak Fund Provides Acquisition Financing to BioInformatics
The BroadOak Fund, an affiliate of BroadOak Capital Partners, provided financing to BioInformatics for the acquisition of Strategic Directions International, Inc.
Stemgent Sells iPS Cell Business to ReproCELL
BroadOak Partners advises Stemgent, a leader in developing innovative technology and application solutions that provide researchers the tools to investigate and understand cellular reprogramming, on the sale of its iPS Cell Business Unit to ReproCELL, Inc.
Asuragen Sells Diagnostic Tests to PDI
BroadOak Partners advises Asuragen, a molecular diagnostics company, on the sale of its miRInform Thyroid™ and Pancreas tests to PDI, Inc.’s subsidiary, Interpace Diagnostics.
EdgeBio Sells to StoneCalibre
BroadOak Partners advises Edge Biosystems, a specialized manufacturer and distributor of sample preparation and clean-up products for use in DNA sequencing, on its sale to StoneCalibre.
BioCision Closes $4M Equity Financing and Signs Strategic Collaboration With Brooks Automation
BroadOak Partners advised BioCision in a strategic investment by Brooks Automation to accelerate commercial momentum. In addition, the companies entered into a collaboration agreement to jointly develop products that support transport, storage and processing of biomaterials.
ABL Sells Preclinical Services Business to BIOQUAL
BroadOak Partners advises Advanced Bioscience Laboratories (“ABL”), a leading life science contract research and manufacturing organization, on the sale of its in-vivo preclinical business to BIOQUAL, Inc.
EdgeBio Sells Sequencing Services Business to BioReference Laboratories
BroadOak Partners advises EdgeBio, a research reagents and sequencing services company, on the sale of its genetic sequencing services business to BioReference Laboratories, Inc.
SDIX Sells Life Science Business To OriGene Technologies
BroadOak Partners advises SDIX, an antibody focused biotechnology company, on the sale of the assets of its Life Science business to OriGene Technologies, Inc. for $16 million. BroadOak Partners also rendered a fairness opinion to the board of directors of SDIX.
UVP sells to Analytik Jena
BroadOak Partners advises UVP LLC on the sale of the company to Analytik Jena AG. UVP is a leading developer and manufacturer of bioimaging systems and ultraviolet products for the academic, pharmaceutical and biotechnology markets and a portfolio company of Carlisle Enterprises.
SeraCare Life Sciences divests BioServices business
BroadOak Partners advises SeraCare Life Sciences, a diagnostics products company, on the sale of its BioServices business, a division which provides biorepository and sample handling services, to Precision Bioservices, Inc.
SDIX divests Food Safety and GMO businesses
BroadOak Partners advises SDIX, an antibody focused biotechnology company, on the sale of its Food Safety and GMO businesses to Romer Labs.
Carestream Health divests preclincial in-vivo imaging business
BroadOak Partners advises Carestream Health, Inc., a leader in healthcare imaging systems and films, on the sale of the in vivo business of Carestream Molecular Imaging, a division which provides preclinical imaging systems, to Bruker Corporation.
BioCision closes growth capital investment
BroadOak Capital Partners, through its affiliate the BroadOak Fund, participated in a financing for BioCision, LLC, a bench-top laboratory tools provider, to help fund the company’s growth.