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Gyros, Protein Technologies to Merge

NEW YORK (GenomeWeb) – Immunoassay firm Gyros and peptide synthesis company Protein Technologies said today that they have entered into a definitive merger agreement to form Gyros Protein Technologies.

The company will combine Gyro's microfluidics, systems development, and immunoassay experience with Protein Technologies' peptide synthesis expertise to provide sample prep, synthesis, and bioanalytical tools for biotherapeutics discovery, development, and bioprocessing.

The new company will be led by CEO Dan Calvo (currently CEO of Gyros AB) and CFO Erik Wiberg (currently CFO of Protein Technologies). David Patteson, currently chairman of Protein Technologies, will serve as chairman while Protein Technologies CEO Nate Cosper will serve in a transition role to assist with the integration of the two companies.

Current majority shareholders of Gyros and Protein Technologies, which are the AP6 (Sixth Swedish National Pension Fund) and Ampersand Capital Partners, respectively, become the major shareholders in Gyros Protein Technologies.

"Protein Technologies has developed deep partnerships with its customers to develop innovative synthesis platforms for peptide science," Cosper said in a statement. "The merger with Gyros further strengthens our R&D and manufacturing infrastructure to enable faster development of new biotherapeutics discovery platforms and consumables. Our combined service and sales organization will have expanded geographic presence, enabling Gyros Protein Technologies to provide even stronger levels of support to its global customers."

The companies both introduced new platforms in 2015 with Gyros launching its Gyrolab xPlore system, an automated, nanoliter-scale, single CD immunoassay platform, and Protein Technologies introducing its the Prelude X, a heating and UV monitoring technology for economical, rapid peptide synthesis. Combined the companies have an installed base of more than 1,000 instruments in biopharmaceutical and related markets.

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