Ampersand-backed Nexelis acquires AIT Bioscience

Nexelis, a portfolio company of Ampersand Capital Partners, has acquired AIT Bioscience, an Indianapolis-based bioanalytical contract research organization.

Nexelis, a portfolio company of Ampersand Capital Partners, has acquired AIT Bioscience, an Indianapolis-based bioanalytical contract research organization. No financial terms were disclosed. Based in Laval, Quebec, Nexelis is a provider of advanced assay development and laboratory testing services. Ampersand invested in 2018.

PRESS RELEASE

LAVAL, QC and INDIANAPOLIS, July 22, 2020 /CNW Telbec/ – Nexelis, a portfolio company of Ampersand Capital Partners and a leading provider of advanced assay development and laboratory testing services in the infectious, oncologic, and metabolic diseases fields, is pleased to announce its acquisition of AIT Bioscience.

Located in Indianapolis and founded 25 years ago, AIT Bioscience is an integrated bioanalytical laboratory with LC-MS and immunoassay testing capabilities which operates a paperless FDA-inspected facility supported by state-of-the-art electronic systems.

Commenting on the news, Benoit Bouche, Nexelis President and Chief Executive Officer said, “this is our fourth acquisition since 2018 and we are excited for AIT Bioscience to join the Nexelis growth story. AIT Bioscience has a scientifically strong team and operates within a geography that we see as an attractive location for future growth. AIT Bioscience’s advanced testing capacity will help Nexelis further bolster its service offering in the bioanalytical segment and maintain competitive lead and turnaround times.”

Tim McGrath, Nexelis’ Chief Operating Officer who will oversee the Indianapolis operations, added, “I am happy and proud to have the responsibility to lead this new addition to Nexelis. This is an opportunity for me to work with experienced individuals, some of whom I have known for years. I am also excited to add large molecule mass spectrometry as a new service offering at Nexelis as this is a growing area where we now offer unique and specialized expertise.”

The acquisition of AIT continues what has been a busy year at Nexelis. The company acquired Belgium-based immunogenicity and immune-oncology specialist ImmunXperts in March and has initiated a number of strategic partnerships to support the development of COVID-19 and other vaccines and biologics with global pharmaceutical companies and leading institutions such as the Bill and Melinda Gates Foundation and CEPI.

About Nexelis
With unrivaled expertise in immunology, and operating sites in North America (East and West Coast) and Europe, Nexelis is a leading provider of assay development and advanced laboratory testing services in the infectious diseases, metabolic diseases, and oncology fields. Our versatile team of scientists, working with our advanced technology platforms, were instrumental in the development, qualification, validation, and large-scale sample testing of assays that supported the FDA filing of almost 100 new molecular entities, including blockbuster vaccines, anti-viral drugs, and immunotherapy, gene and cell therapy products. For more information, please visit www.nexelis.com

About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle-market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, 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. Ampersand has helped build numerous market-leading companies across each of our core healthcare sectors, including Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. For more information, please visit www.ampersandcapital.com