Sepragen Announces Intent to Acquire Assets of Cytobiologics
News May 18, 2006
Sepragen Corporation have announced the signing of a letter of intent to acquire substantially all of the assets of Cytobiologics, Inc., a development stage company.
The assets include laboratory equipment and intellectual property related to certain rapid assays and a high density bioreactor, which complements Sepragen's existing high density bioreactor currently in "alpha development."
Sepragen's CEO and founder, Vinit Saxena, remarked, "The addition of Cytobiologics' capability will provide us with facilities, talent and intellectual property to pursue the development of an integrated bio-manufacturing system. This will allow us to move up the value chain and be more of a full solution provider to our customers. The acquisition is subject to concluding a definitive agreement and to securing board approvals."
Sepragen currently provides innovative bio-purification products that enable biotech companies to develop and produce biopharmaceuticals quickly and cost-effectively. Sepragen products are used world-wide by leading biotech companies to manufacture over a dozen FDA approved drugs.
University of Wisconsin–Madison Professor of Chemistry Shannon Stahl has received the Steenbock Professorship in Chemical Sciences. In addition to advancing the fundamental science in this area, Stahl has been involved in numerous industrial collaborations that have led to practical applications, including target applications relevant to pharmaceutical synthesis.READ MORE