Canopy Biosciences Acquires Core Diagnostics

ST. LOUIS, Dec. 4, 2019 /PRNewswire/ -- Canopy Biosciences, LLC announced today the acquisition of Core Diagnostics, a leading CLIA-certified provider of biomarker analysis services for biopharmaceutical researchers. With the acquisition of Core Diagnostics, Canopy Biosciences will be able to perform its multi-omic immune profiling services in the highly regulated CLIA environment. In addition to NanoString transcriptional profiling, Core Diagnostics also offers histopathology services including immunohistochemistry (IHC) and fluorescent in situ hybridization (FISH). The acquisition of Core Diagnostics follows the acquisition of Zellkraftwerk, GmbH, which joined Canopy earlier this year. Both acquisitions were made possible by strategic growth investments from Ampersand Capital Partners.

Edward Weinstein, Ph.D., CEO and President of Canopy Biosciences commented, "By combining multi-omic technologies such as Chip Cytometry, NanoString, and RareSeq, we are building a unique and powerful platform for immune profiling of cells and tissues. Through the addition of Core Diagnostics, this innovative multi-omics platform will now be available to customers in the clinical space in addition to the preclinical and translational customers we already work with."

K. Balachandran, CEO of Core Diagnostics said, "Core Diagnostics is excited to join Canopy Biosciences. Our customers have been asking us to add services to more comprehensively satisfy their outsourcing needs. In Canopy and Ampersand we have found the partners that will allow us to add to our capabilities and better serve our customers."

Frank Witney, Ph.D., Operating Partner at Ampersand and Chairman of Canopy added, "With the prior addition of Chip Cytometry to Canopy, we were able to add a technology that bolstered Canopy's multi-omic approach to immune profiling. Now, through the addition of Core Diagnostics, we are able to bring this innovative platform to a CLIA-certified lab to serve customers in the clinical space."

About Canopy Biosciences
Canopy Biosciences was formed in 2016 and has rapidly built a comprehensive portfolio of products and services for gene editing, gene expression analysis and regulation, and bioprocessing. Canopy's gene editing portfolio offers easy-to-use CRISPR kits and full service custom cell line engineering. Canopy has assembled an innovative multi-omic platform for immune profiling, including ultrasensitive DNA sequencing (RareSeq), RNAseq, NanoString gene expression analysis, and multiplexed protein detection in cells and tissue samples via Chip Cytometry. Canopy Biosciences is headquartered in St. Louis, Missouri, and serves researchers at universities, research institutions and biotechnology and pharmaceutical companies worldwide. Additional information is available at www.canopybiosciences.com.  

About Core Diagnostics
Core Diagnostics is a California licensed CLIA-certified laboratory offering biomarker analysis and translational research support for studies ranging from early discovery to analyses of Phase III clinical trial samples. Core's research group works with clients to develop biomarker strategies and assays collaboratively by functioning seamlessly as an extension of their team and executing on their requirements. Taking a technology agnostic approach, Core Diagnostics offer services in histopathology, IHC, FISH, mutational analysis and high-throughput gene expression studies. Core's laboratory has implemented cutting edge platforms for molecular analysis including the nCounter® Analysis System from NanoString® and the BioMark™ HD System from Fluidigm for gene expression studies, the Allegro™ fluorescent imaging system and Solo™ workstation from Bioview for FISH analysis and the intelliPATH IHC platform from Biocare Medical. For more information, please visit www.corediagnostics.net

About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of our core healthcare sectors, including Brammer Bio, Avista Pharma, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics and Viracor-IBT Laboratories. Additional information is available at www.ampersandcapital.com.

SOURCE Canopy Biosciences

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