NEW YORK (GenomeWeb News) - Bioanalytical contract services provider Advion BioSciences this week said it has acquired microfluidic chemistry firm NanoTek for an undisclosed sum.
Advion said it plans to use NanoTek's technology in combination with its own micro- and nanoscale LC-MS analytical platform to offer chemistry and analytical services for biomarker research, drug discovery, and imaging diagnostics.
Prior to the acquisition, Advion was NanoTek’s global distribution and support partner.
David Patteson, CEO of the Ithaca, NY-based Advion, said the deal is “extremely strategic ... and accretive to earnings from day one.” He added, “We intend to rapidly accelerate the NanoTek global commercialization and extend the product lines into pre-existing demand areas.”
Advion said it will keep NanoTek CEO Joe Matteo on staff as president of Advion’s Accelerated Chemistry division, which is based in Knoxville, Tenn.