California Cryobank (CCB) Announces Acquisition by Longitude Capital and NovaQuest Capital

LOS ANGELES, Aug. 20, 2014 /PRNewswire/ -- California Cryobank (CCB), a global leader in reproductive tissue donor services and storage and stem cell banking, announced today that it has been acquired by equity investors Longitude Venture Partners II, L.P. ("Longitude") and NovaQuest Pharma Opportunities Fund III, L.P. ("NovaQuest").

Founded in 1977 by Dr. Charles Sims and Dr. Cappy Rothman, California Cryobank has built a strong, global presence in both fertility and cellular therapy, two of the most important and fastest-growing areas in healthcare.  CCB's Reproductive Division has helped thousands of parents grow their families as the largest provider of anonymous donor sperm services and private reproductive tissue storage, and CCB's Stem Cell Division is one of most active stem cell banking businesses in the world.  The acquisition of CCB was financed through a combination of equity contributed by Longitude and NovaQuest and debt provided by Golub Capital.  Additional terms of the acquisition were not disclosed.

"CCB is a market-leading, high-growth and profitable company whose products represent the highest level of quality and customer service in major areas of medical need," said Dr. Gregory Grunberg, Managing Director at Longitude, "We believe CCB's senior management team has the vision and the operational strength to expand the Company's business and meet the growing needs of customers in the fertility and cellular therapy markets."

Dr. Sims, the CEO and Medical Director of CCB, commented, "California Cryobank is recognized worldwide for its leadership in reproductive tissue and stem cell banking.  Our partnership with Longitude and NovaQuest provides key additional resources and allows us to expand and grow within these areas.  Our commitment is always to ensure our products meet the highest scientific standard and continued innovation for the families that choose CCB."

William Robb, Partner at NovaQuest, stated, "NovaQuest is extremely pleased to begin its ownership relationship with CCB. In the four decades since its founding, CCB has become the leading global reproductive tissue services company, with unparalleled customer service and operating practices. We are excited to join CCB's outstanding management to build on this solid foundation and expand both the scale and scope of CCB's business.

About Longitude Capital

Longitude Capital is a private investment firm that focuses on venture growth investments in leading healthcare companies.  Founded in 2006, Longitude has offices in Menlo Park, CA and Greenwich, CT.  The firm builds balanced healthcare portfolios focused on creating value in special situations, including acquisitions, spin outs, PIPEs, and structured transactions, as well as traditional venture and growth equity.  Longitude most recently raised $385 million for its second fund, Longitude Venture Partners II, L.P., in 2012.  For more information about Longitude Capital and its portfolio of investments, please visit www.longitudecapital.com.

About NovaQuest Capital Management

NovaQuest Capital Management ("NovaQuest") is an independent investment firm which manages product and company investments in the global healthcare industry. The NovaQuest team has worked together for over 14 years, investing over $1 billion into the global healthcare industry. NovaQuest focuses on product finance investments with global biopharmaceutical companies in strategic, late-stage clinical and commercialized assets. These customized, product transactions are an alternative to standard biopharmaceutical industry deal-making and help companies maximize the value of their asset portfolios. In addition, NovaQuest invests in select private equity and other company securities, with a consistent focus on late-stage clinical and commercialized products. For more information, visit www.novaquest.com

About California Cryobank

California Cryobank provides a comprehensive resource for frozen donor sperm and specialized reproductive services, including private egg and embryo storage services.  In addition, since 1997, CCB has provided stem cell services through its FamilyCord subsidiary, including both cord blood and cord tissue banking.  CCB operates throughout the United States, as well as Europe, South America and Asia.  CCB is registered with the FDA, accredited by the AATB (American Association of Tissue Banks), licensed by the states of California and New York, and has 3 CLIA-certified clinical laboratories.

Contact:

Justin Jackson
Burns McClellan, on behalf of Longitude Capital
212-213-0006
[email protected]

SOURCE Longitude Capital

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED