KVCI Buys Bioanalytical Lab Biz from ZeeCRO

Kansas Venture Capital has acquired the former AAIPharma bioanalytical division from ZeeCRO Inc. No financial terms were disclosed.

PRESS RELEASE

Kansas Venture Capital, Inc. (KVCI) has acquired the former AAIPharma bioanalytical division from ZeeCRO Inc. With its 30-year track record of developing entrepreneurial companies, KVCI will grow the bioanalytical business through organic and acquisition strategies to provide best-in-class analytical services for both the pharmaceutical and life sciences sectors.

“In addition to providing access to significant capital resources, the combined KVCI and KBA effort offers extensive pharmaceutical expertise that will benefit our customers, employees and shareholders as we continue to bring the highest levels of quality and innovation to the marketplace”

The new company is named KCAS, LLC, and will retain its location in Shawnee, Kan. KVCI partnered with other local investors to acquire the business. The Kansas Bioscience Authority provided strategic guidance and will retain an advisory role in operations.

The original KCAS was founded in 1979 by William Mason, Ph.D., and Robert Lanman, Ph.D., and this acquisition turns the lab back into an independent entity in the Kansas City community.

Building on three decades of excellence, and more than 834 drug assays and thousands of PK, TK and bioequivalence studies completed, KCAS’ mission is to elevate the quality of product development by providing specialized small molecule, large molecule and biomarker analysis.

“We are excited to partner with KVCI and the Kansas Bioscience Authority to bring our customer-focused culture and values back to both Kansas City and the industries we serve,” said Dari Dadgar, Ph.D., who has led the lab since 2005 and has been appointed the company’s president and chief scientist.

“In addition to providing access to significant capital resources, the combined KVCI and KBA effort offers extensive pharmaceutical expertise that will benefit our customers, employees and shareholders as we continue to bring the highest levels of quality and innovation to the marketplace,” said Michael Lanman, son of one of the original KCAS founders and a 25-year veteran of the lab. Lanman will continue to serve as the company’s lead operations executive.

For 30 years, KCAS has provided best-in-class bioanalytical services, including method development, validation and high-throughput sample analysis on biological samples from preclinical and clinical studies. The company provides contract research services to pharmaceutical, biotech, animal health and medical device companies to perform good laboratory practices (GLP) and non-GLP bioanalytical analysis on blood, plasma, urine and tissue samples. KCAS also has established a quantitative method for the measurement of menstrual blood loss. This method now is registered with the FDA, making KCAS a recognized leader in this field.

With responsive, reliable and personalized results, KCAS boosts its clients’ bottom lines by enabling them to get drugs to market more quickly and effectively. The company serves pharmaceutical companies of all sizes, including large multi-national companies, medium-sized pharmaceutical and biotech organizations, and small or virtual companies.

Financial terms of the deal were not disclosed. For more information on KCAS, please visit www.kcasbio.com

KVCI invests in U.S. companies with long-term capital appreciation potential. The company has provided private equity to emerging and lower middle-market companies for more than 30 years. Investments may support growth, working capital, ownership transition or shareholder liquidity. For additional information about Leawood, Kan.-based KVCI and its investments, visit www.kvci.com.

About the KBA

The Kansas Bioscience Authority is a $581-million initiative created by the Kansas Economic Growth Act of 2004 to expand the state’s world-class research capacity and bioscience clusters; support the growth of bioscience startups; and stimulate bioscience business expansion and attraction. www.kansasbioauthority.org