NEW YORK (GenomeWeb News) – Private equity group Argos Soditic and management members of Cisbio Bioassays today announced that they have acquired Cisbio Bioassays from IBA for an undisclosed amount.
As a result, Cisbio will operate as an independent company.
Based in Codolet, France, Cisbio provides assays and reagents to researchers in the pharmaceutical, biotechnology, and academic markets, as well as to contract research organizations. Its technology portfolio includes Homogeneous Time Resolved Fluorescence. The company has facilities in Bedford, Mass., and Shanghai, and has 200 employees.
Cisbio said that it generates annual revenues of about €35 million ($47.4 million).
The deal will open up opportunities "for strategic growth and will enable [Cisbio] to strengthen its market positions," the firms said, adding that Argos Soditic will help Cisbio implement its strategic plan of innovation, new product launches, and international development.