HAMBURG, Germany, September 25, 2013 /PRNewswire/ --
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.
About Indivumed GmbH
Indivumed GmbH, a privately hold biotech company, was founded 2002 in Hamburg, Germany, to promote the development and clinical implementation of individual cancer therapies. Based on a highly standardized tumor biobank and a unique clinical infrastructure with clinical partners in Germany and the US, Indivumed offers a broad range of specialized research services to biopharmaceutical companies and academia and performs biomarker research and development. With its subsidiary IndivuTest GmbH, Indivumed provides high-quality-tissue based tumor analysis to patients and started an initiative with oncologists in Germany and the US to improve personalized cancer therapy strategies in the clinical routine.
For more information (also about Inostics and IndivuTest) please visit http://www.indivumed.com.
About Sysmex Corporation
Sysmex Corporation (Headquarter: Kobe, Japan), a listed company at the Tokyo Stock Exchange market, supports human health. Sysmex is an integrated company, developing and manufacturing the instruments, reagents and software that are needed for in-vitro diagnostics, and providing the necessary sales and support networks. Sysmex is expanding operations, augmenting traditional strength in hematology with non-hematology fields such as immunochemistry and hemostasis, as well as the life science field. Sysmex is leveraging its proprietary technologies to create new testing and diagnostic technologies that aim to ensure optimal healthcare for all.
For more information please visit http://www.sysmex.com.
SOURCE Indivumed GmbH