LakePharma Inc buys Blue Sky BioServices

LakePharma Inc has acquired Blue Sky BioServices. Financial terms weren’t announced. Worcester, Massachusetts-based Blue Sky is a CRO specializing in protein and antibody production and assay service. Blue Sky is backed by Ampersand Capital Partners, which has invested in Lake Pharma as part of the deal.

PRESS RELEASE

BELMONT, Calif. and WORCESTER, Mass., March 22, 2016 /PRNewswire/ — LakePharma, Inc., the leading provider of integrated solutions covering the biologics CRO space, announces the acquisition of Blue Sky BioServices, a CRO specializing in protein and antibody production and assay services. The combined company will be known as LakePharma, and is now the largest dedicated biologics CRO in the United States, providing a broad range of protein and antibody-related development services to the pharmaceutical and biotechnology markets. Blue Sky BioServices is a portfolio company of Ampersand Capital Partners and as part of the transaction, Ampersand made an investment into LakePharma to support growth initiatives.
Bringing together LakePharma’s world class expertise in antibody development, protein expression and characterization, molecular biology and process development with Blue Sky’s leadership in bacterial and baculovirus systems, complementary molecular biology platforms, and assay services will provide the biologics discovery research market with a continuum of services never before offered by a single CRO. LakePharma has nearly 100 employees and four facilities located in the key San Francisco Bay Area and Cambridge/Boston biotech hubs.
“LakePharma and Blue Sky are extremely complementary businesses that joined to create a singular company with unparalleled capabilities, broad expertise and quality processes in biologics development and engineering,” commented LakePharma CEO and Founder Hua Tu, Ph.D., who will continue as CEO of the expanded organization. “This transaction positions us to engage and meet the needs of expanding markets while better serving our customers through continued investment in innovative, complementary services.”
“We see strong demand for the capabilities and expertise that the combined LakePharma will be able to offer,” said Eric Lev, Partner at Ampersand. “I look forward to working with Hua and the rest of the management team as they execute on LakePharma’s growth plan.”
About LakePharma
LakePharma is the leading contract research organization (CRO) specializing in antibody engineering, antibody discovery, molecular engineering, protein chemistry, bioexpression, biofunction, bioprocessing, and bioanalytics. LakePharma focuses on integrated platforms to support projects throughout the drug discovery process. LakePharma offers dedicated client services and sophisticated software to provide real-time access to project data via a secure cloud-based portal, Datasystems. For more information, please visit www.blueskybioservices.com.
About Ampersand Capital Partners
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed more than $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. For more information, please visit