MLM Medical Labs, which is backed by Great Point Partners, has acquired Oakdale, Minnesota-based MD Biosciences Inc, a provider of contract research services for the development of pharmaceutical and diagnostic assets. No financial terms were disclosed.
GREENWICH, CONN. AND MOENCHENGLADBACH, GERMANY (PRWEB) OCTOBER 27, 2020
MLM Medical Labs (“MLM”), a Great Point Partners portfolio company, today announced the acquisition of MD Biosciences, Inc., based in Oakdale, Minnesota. MD Biosciences is a global, industry-leading provider of preclinical, translational and clinical-phase contract research services for the development of pharmaceutical and diagnostic assets. With AAALAC-accredited, GLP-compliant and CLIA-certified facilities, MD Biosciences offers a wide range of validated and customizable models including inflammatory, autoimmunity, oncology, and metabolic diseases. MD Biosciences operates a full-service histopathology lab including digital image analysis. MD Biosciences Bioproducts and MD Biosciences Israel, which focuses on preclinical and translational research in neurology, are not part of this transaction.
MD Biosciences has a strong reputation for partnering closely with clients to help solve difficult scientific challenges. This scientific expertise and high-touch emphasis fit perfectly with MLM’s core principles of strong scientific leadership with white glove customer service. The addition of MD Biosciences follows the acquisition of CirQuest Labs in Memphis, Tennessee in July 2020 initiating MLM’s geographic expansion into the United States and adding key offerings to the expanded customer base now serving over 400 companies.
“We are extremely excited to welcome MD Biosciences to MLM. MD Biosciences’ immunohistochemistry expertise and pre-clinical research are important additions to our core offerings. Our customers are looking to MLM to meet their needs globally and this further strengthens our presence in the US. With 150 employees between Europe and the US, MLM has the scale and capacity to support all stages of product development,” states Stephan Voswinkel, Managing Director, MLM.
“Joining MLM is the next step in the evolution of MD Biosciences, Inc., providing an expanded geographic reach in testing services. This opens the opportunity to serve MD Biosciences’ growing roster of customers with their needs in Europe, the US and with the combined strength of MLM and CirQuest,” commented Eddie Moradian, CEO of MD Biosciences.
Bret Tenenhaus, Senior Vice President at Great Point Partners added, “Enhancing our capabilities for our existing customers and broadening our geographic reach globally are at the core of our strategic plan for MLM. The acquisition of MD Biosciences, Inc., with its presence in the U.S. and services spanning pre-clinical, clinical, and immunohistochemistry, is thus a significant milestone for MLM.”
The integration of the three operations will occur in the coming few months to align the operations and quality systems offering customers consistent access to MLM services in both the US and EU. The addition of MD Biosciences further demonstrates MLM’s commitment to grow operations to meet the demand from its customers.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.9 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $307 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.4 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or http://www.gppfunds.com.
About MLM Medical Labs
MLM Medical Labs founded 1993 is a Central and Specialty Laboratory dedicated exclusively to clinical trials. MLM offers a full range of laboratory services, including specialized biomarker testing, standard safety profiles, clinical chemistry, and analyses of drug compounds, metabolites and molecular diagnostic parameters. Internationally active in over 40 countries, including the U.S. and Eastern Europe, MLM is headquartered in Moenchengladbach, Germany (near Duesseldorf International Airport). MLM works 365 days a year in order to ensure valid, high-quality, results with a quick turnaround time. In December 2019 MLM became a Great Point Partners portfolio company.
For more information, please visit http://www.mlm-labs.com