BioIVT Acquires Serum, Plasma and Reagent Producer and IVD Manufacturer Valley Biomedical Products & Services
Transaction will expand BioIVT's in vitro diagnostic, cell and gene therapy support capabilities
WESTBURY, N.Y., June 28, 2021 /PRNewswire/ -- BioIVT, a leading provider of research models and services for drug and diagnostic development, today announced the acquisition of Valley Biomedical Products & Services, Inc. located in Winchester, VA.
Founded in 1986, Valley Biomedical provides specialized biological products and services for the biotechnology, research and development, and clinical diagnostics markets. It operates three business units, focused on developing research products and cell culture sera; manufacturing human and animal source blood products to client specifications; and producing non-biological liquid reagents. Valley Biomedical is also an FDA-registered medical device manufacturer, primarily producing in vitro diagnostics (IVDs).
"We are delighted that the Valley Biomedical team is joining BioIVT. It is a good match with both companies possessing a similar business approach and work ethic. We have well-trained, experienced staff focused on delivering high quality, consistent products, personalized client service, and excellent technical support. Working together, we will be able to create a broader repertoire of customized solutions to meet individual client needs," said BioIVT CEO Jeff Gatz.
"We had been looking for a partner with similar values and expertise to allow us to continue to grow our business in a smart and thoughtful way. We are confident that our customers will benefit from this new relationship with BioIVT. They will continue to receive the excellent customer service that they expect from Valley Biomedical, while also gaining access to a much wider range of products and services," said Mario Romano, President of Valley Biomedical.
Illustrating how well the companies' portfolios combine: BioIVT's cell and gene therapy clients will be able to use Valley Biomedical's human AB serum for their drug discovery and development work, and its IVD clients will be able to employ Valley Biomedical's biological matrices as quality control matrices for their manufacturing processes.
Conversely, BioIVT's seven donor centers will provide access to bulk biological matrices that can be processed by Valley Biomedical for cell and gene therapy or IVD applications.
BioIVT will continue to operate Valley Biomedical's Winchester facility and employ all its staff. Financial details about this transaction were not disclosed.
About Valley Biomedical
Valley Biomedical was established in 1986 to provide the clinical diagnostics industry with high quality biologicals, diagnostic reagents, and contract manufacturing services. In 1995, it began to concentrate on providing human and animal source blood products and cell culture sera to the R&D market. Valley Biomedical is also an FDA-registered medical device manufacturer, operating under cGMP for medical devices, and producing predominantly IVDs. Additional information is available at www.valleybiomedical.com.
About BioIVT
BioIVT is a leading global provider of research models and value-added research services for drug discovery and development. We specialize in control and disease-state biospecimens including human and animal tissues, cell products, blood and other biofluids. Our unmatched portfolio of clinical specimens directly supports precision medicine research and the effort to improve patient outcomes by coupling comprehensive clinical data with donor samples. And as the premier supplier of hepatic products, including hepatocytes and subcellular fractions, BioIVT enables scientists to better understand the pharmacokinetics and drug metabolism of newly discovered compounds and their effects on disease processes. By combining our technical expertise, exceptional customer service, and unparalleled access to biological specimens, BioIVT serves the research community as a trusted partner in elevating science. For more information, please visit www.bioivt.com or follow the company on Twitter @BioIVT.
BioIVT Contact: Courtney Noah, SVP, Marketing & Client Services, 516-483-1196
Media Contact: Lisa Osborne, Rana Healthcare Solutions, 206-992-5245, [email protected]
SOURCE BioIVT
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