Pyxant Labs acquires Covance through Labcorp’s Salt Lake City bioanalytical site


Pyxant Laboratories

Pyxant Labs Inc., a private bioanalytical contract research laboratory, today announced an agreement to acquire Covance by Labcorp’s bioanalytical site in Salt Lake City. Pyxant Labs operations in Colorado Springs and the Salt Lake City site will combine their long-standing reputation, breadth of service, recognized expertise and exclusive focus on bioanalytical services with cell imaging and biology capabilities. ImaBiotech’s cutting-edge space.

The combination of the Colorado Springs and Salt Lake City sites integrates advanced bioanalytical capabilities within a single organization to support the progression of drug candidates through all phases of the product lifecycle, from early discovery to phase IV, thus helping to reduce the failure rate. and accelerate the development of safer therapies. With best-in-class capabilities for small molecule therapeutics and PK / PD profiling, both sites have consistently focused on leading the industry with bioanalytical services for oligonucleotides, mRNA, siRNA, peptides, rapid discovery and analysis of complex biological samples. (including fabrics).

“Salt Lake and Colorado Springs have grown their respective businesses over the years to anticipate the needs of our customers and earn their trust by delivering on our commitments,” said Jim Wilfahrt, President of Pyxant Labs. “Both sites are recognized for their scientific depth and expertise, spanning the spectrum of compound classes with a focus on therapeutic RNAs and other complex bioanalytical requirements. Having now worked with teams at both sites, I could not be more optimistic about our combined ability to provide enhanced services to our clients and create expanded opportunities for our team members.

“Having known and respected the entire Salt Lake site team for a long time, as we began to assess a possible transaction, we immediately appreciated the exceptional cultural alignment with people, customers and science,” noted Maurice Gaubatz , CEO of Pyxant Labs. “Joining forces in this way is a once-in-a-lifetime opportunity, and I appreciate Covance by Labcorp’s focus throughout a complex transaction process. They always put people on site and site-related customer relationships first, and their focus on these principles continues to be a factor in driving this mutually compelling transaction. ”

The new combined company creates a major player focused exclusively on bioanalytical excellence. The deep science paradigm, a constant focus on customer service, validated regulatory expertise and innovative proprietary technology accelerate, and even enable, therapeutic innovation for our clients.

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021.

About the Salt Lake City site

The Salt Lake site was created in 1994 by Tandem Labs, acquired by Labcorp in 2008. In 2016, the site was integrated into Covance by Labcorp. For 27 years, the site has provided comprehensive bioanalytical services to the pharmaceutical and biotechnology industry in support of early stage discovery studies through NDA submission. The Salt Lake site is recognized as an industry leader in the bioanalytical support of RNA therapies using high resolution mass spectrometry, traditional LC-MS / MS and UPLC / fluorescence detection platforms.

About Pyxant Labs | http://www.pyxant.com

Founded in 2000, Pyxant Labs provides innovative bioanalytical solutions to advance advanced and complex drug development programs, from translation to NDA approval. Using high-resolution mass spectrometry and traditional LC-MS / MS platforms, the Colorado Springs site is recognized for its fast-turnaround drug discovery services, unique expertise in quantifying delivery mechanisms for therapies ARN, its proactive customer service and superior regulatory compliance.

About ImaBiotech | http://www.imabiotech.com

ImaBiotech is a bioanalytical CRO with facilities in Boston (MA, USA) and Lille (Eurasante Park, France), offering a combination of innovative mass spectrometric imaging techniques and spatial biology (histology, multi-omics, spatialomics ) in order to decipher the complexity of drug-related activities. Combining unique capabilities with advanced digital pathology tools makes it possible to measure drug activity and drug response, simultaneously, at a single cell level. This performance allows for a comprehensive evaluation of drug efficacy throughout the preclinical and clinical stages.

About ArchiMed | http://www.archimed-group.eu

ArchiMed is a leading private equity firm focused exclusively on the healthcare industry. ArchiMed’s strategy is based on healthcare specialization, integrated private equity, medical and operational expertise, and its unique transatlantic platform that supports growth through internationalization. Over the past 20 years, ArchiMed’s management team has directly managed and invested in more than 40 small and large healthcare companies around the world, representing over € 5 billion of invested capital. ArchiMed currently manages nearly € 2 billion of assets in four funds, MED I and MED II focused on small caps, PolyMED focused on gene and cell therapy and MED Platform I focused on mid caps. largest health fund in Europe, at € 1 billion. ArchiMed is an impact investor and signatory of the Principles for Responsible Investment, is committed to respecting the United Nations Sustainable Development Goals.

Contact

Pyxant Labs customer relations

[email protected]

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