Document › Details
Indivumed GmbH. (9/25/13). "Press Release: Indivumed Sells Inostics, the Plasma-DNA Company, to Sysmex and Expands Its Clinical Research Service and Patient Diagnostics Business". Hamburg.
|Organisation 2||Inostics GmbH|
|Today||Sysmex Inostics GmbH|
|Product||digital PCR technology|
|Product 2||cancer test|
|Index term||Indivumed–Sysmex: investment, 201309–201310 acquisition of 100% of Inostics GmbH + its subsidiary Inostics Inc by Sysmex Corp|
|Person||Diehl, Frank (Inostics GmbH 2013 Managing Director + Co-Founder)|
|Person 2||Juhl, Hartmut (Indivumed 200701 CEO + founder)|
Indivumed GmbH ("Indivumed"), based in Hamburg, Germany, announces that 100% of all shares of Inostics GmbH and its Baltimore, US-based subsidiary Inostics Inc. ("Inostics"), have been sold to Sysmex Corporation (Headquarter in Kobe, Japan).
Inostics possesses advanced genetic testing technologies, such as ultra-sensitive digital PCR technology for detecting cancer cell DNA directly from blood - a "liquid biopsy" process as opposed to tissue testing. By acquiring this technology, Sysmex plans to develop on a global basis assay services that Inostics already provides. Sysmex's companion diagnostics activities in collaboration with pharmaceutical companies will be enhanced as well.
In 2008, following a five year collaboration with Dr. Bert Vogelstein and his team at Johns Hopkins University in Baltimore, MD, Indivumed and the scientists at Johns Hopkins University together founded Inostics GmbH in Hamburg, Germany, to commercialize the "BEAMing-Technology". "Having established a solid foundation to enable the rapid growth of Inostics, the overwhelming acceptance of this groundbreaking technology by pharmaceutical companies and the medical community demanded a global growth strategy and search for a strategic partner. We are delighted to have found with Sysmex the ideal partner for the next development phase," comments Prof. Hartmut Juhl, CEO of Indivumed and Inostics.
"With Sysmex, we expect achieving our goal to make Inostics technology the leading approach for DNA-based cancer diagnostics for the worldwide benefit of cancer patients. The fact that Sysmex has its European Headquarter in the Hamburg area facilitates a smooth transition and an undelayed continuation of Inostics business" says Dr. Frank Diehl, co-founder of Inostics, who continues to work for Inostics as Chief Scientific Officer and Managing Director.
Following the closing of the transaction, Indivumed will independently expand its tissue-based clinical research service business leveraging a comprehensive and very high quality tumor-biobank and its well-established prowess in the analysis of proteins and cancer pathways for drug development and patient diagnostics.
JMP Securities LLC acted as financial advisor and Freshfields Bruckhaus Deringer LLP served as legal counsel to Inostics and its shareholder in the transaction.
Record changed: 2016-05-31
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