COPENHAGEN, December 2 /PRNewswire/ -- Biomonitor A/S has completed the acquisition of the Irish company Neutekbio Ltd. on 27 November 2008. Neutekbio's technologies and products complement perfectly Biomonitor's current offerings to physicians and clinics involved in treatment of patients with Multiple Sclerosis, Rheumatoid Arthritis and Crohn's disease worldwide. Biomonitor will continue the RD and manufacturing operations in Ireland and the ongoing collaboration with the French research institution CNRS in Paris. CNRS is a leading research organization in cell biology, virology, and medicine.
Comments from Biomonitor's CEO Arsalan Kharazmi. Neutekbio has developed a proprietary platform and products based on reporter gene technology. The company has developed cell-based assays and kits called iLiteTM. These assays and kits measure biological activity of cytokines such as Interferons and neutralizing antibodies to IFNs and TNFalpha antagonists. These assays are essential and very important for monitoring drug activity profile as well as the potential of immunogenicity of biopharmaceutical drugs throughout the entire development and post-marketing. With the acquisition of Neutekbio we have become the leading theranostic company, which offers a very broad range of assays for patient monitoring as well as supporting pharma/biotech industry in their biopharmaceutical drug development programs.
Dr. Robert Erickson, former CEO of Neutekbio and currently Managing Director of the Galway-based operation, indicated this was a strategically important event for the Company. Neutekbio has established product development laboratories, ISO13485 certified manufacturing facilities and have recently introduced 3 products to the marketplace. I am confident that synergies inherent in this acquisition will be realized in a timely manner.
The acquisition is made possible by the financial support from Sunstone Capital in Denmark. We are committed to supporting Biomonitor in becoming a leader in monitoring and improving costly protein based therapies - also by acquisition of supplementary products and technologies when possible, says Søren Lemonius, Chairman of Biomonitor and Partner in Sunstone Capital.
About Biomonitor
Biomonitor founded in 2003 has developed specialized assays to measure biopharmaceutical drug levels as well as antibodies to these drugs. These assays are being used to monitor patients suffering from diseases such as multiple sclerosis, rheumatoid arthritis and Crohn's disease for antibodies against the biopharmaceuticals they are being treated with. They are also being used to support pharma/biotech companies with PK as well as immunogenicity testing of new and biopharmaceutical drugs. Web site: http://www.biomonitor.dk
About Sunstone Capital
Sunstone Capital is a Nordic-based early stage venture capital investor founded by an international team with more than 200 years of combined entrepreneurial, operational and financial experience. Sunstone focuses on developing and expanding early-stage Life Science and Technology companies with strong potential to achieve global success in their markets.
Web site: http://www.sunstonecapital.com
Further information: Arsalan Kharazmi,CEO, Biomonitor. E-mail: ak@biomon.dk, Phone: +45-39179797 Søren Lemonius, Partner, Sunstone Capital A/S, E-mail: Lemonius@sunstonecapital.com, Phone: +45-408-14889
Further information:, Arsalan Kharazmi,CEO, Biomonitor. E-mail: ak@biomon.dk, Phone:, +45-39179797; Søren Lemonius, Partner, Sunstone Capital A/S, E-mail:, Lemonius@sunstonecapital.com, Phone: +45-408-14889
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