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Discovery Life Sciences Acquires QualTek

Discovery Life SciencesTM (Discovery) today announced the acquisition of QualTek Molecular Laboratories (QualTek), a renowned provider of immunohistochemistry (IHC) services with CAP/CLIA-accredited and Good Laboratory Practice-(GLP) capable laboratories in California and Pennsylvania, respectively.

QualTek  significantly augments Discovery’s existing histopathology services and creates a uniquely powerful suite of solutions that include one of the world’s largest commercial biorepositories and biospecimen procurement networks, the HudsonAlpha Discovery sequencing and bioinformatics laboratory, and innovative flow cytometry and cell-based laboratory services.

The science of IHC is crucial for the identification and validation of tissue biomarkers that inform decision making throughout drug and diagnostic research and clinical development.  Drug and diagnostic development programs in Oncology depend on the use of specific and sensitive biomarkers that help scientists define diagnostic and treatment options for specific patient populations and understand the underlying biological processes driving both disease progression and the potential benefits of the targeted therapies under development.

Discovery’s integrated, holistic approach to biomarker validation starts by accelerating the earliest stages of preclinical research via access to its millions of biospecimens and the provision of a broad range of multiomic annotation services. The acquisition of the QualTek  team adds innovative assay development and validation capabilities combined with the knowledge and expertise to utilize any of the the major IHC technology platforms.  The QualTek team continues to build on its successful track record of supporting clinical trial design and providing the follow-on centralized clinical trial IHC laboratory services; the expert team at QualTek developed the prototype PD-L1 companion diagnostic assay that provided the  foundation for development of the companion diagnostic for pembrolizumab.

“We founded QualTek 22 years ago and have successfully realized our vision of using IHC as a platform for personalized medicine to help increase cancer patient response to therapy,” said Frank Lynch, PhD, COO of QualTek. “We can now leverage direct access to the largest bank of annotated FFPE blocks to allow our biopharma partners to design clinical trials strategically, based on understanding the expression of their target proteins in specific patient populations.”

“This knowledge can save millions in cost, years of time, and help drive successful development programs that change patients’ lives,” added Steve Bernstein, PhD, CEO of QualTek. “QualTek is proud and excited to join Discovery Life Sciences and bring the advantage of our scale and synergies to accelerate the research and development of our clients’ drugs and companion diagnostics.”

“All of Discovery’s services provide access to leading edge science, technologies, quality and speed. Our clients rely on us to accelerate their decision making as they move along the path that begins in research and extends through clinical development,” said Glenn Bilawsky, Discovery’s CEO.  “The expertise and scale of our new immunohistochemistry capabilities, alongside our leading biospecimen, flow cytometry, and genomic services, uniquely enable us to deliver meaningful answers that our clients can trust to develop innovative drugs and diagnostics faster and more cost-effectively.”

 About Discovery Life Sciences 

Discovery Life Sciences is the global market leader in biospecimen analysis, procurement, distribution, and genomic, cell-based and histology-based scientific services for the pharmaceutical, biotechnology, and diagnostics industries. HudsonAlpha Discovery is Discovery’s sequencing and bioinformatics division, a globally recognized service laboratory that leverages the most current genomic research technologies to comprehensively support discovery, translational, and clinical research. Driven by science, the Discovery team engages with customers in an innovative, consultative approach to overcoming obstacles and reaching a faster end result. We are Science at your Service™! For more information, visit dls.com.

 

 

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EVERSANA Announces Agreement to Acquire Cornerstone Research Group

EVERSANA™, the leading independent provider of commercial services to the life science industry, today announced an agreement to acquire Canada-based Cornerstone Research Group, Inc.

Headquartered in Burlington, Ontario with an additional location in Sydney, Nova Scotia, Cornerstone Research Group is the leader in Health Economics and Outcomes Research (HEOR) services, working with leading pharmaceutical and medical device companies across the globe.

EVERSANA offers a fully integrated and independent commercial services platform designed to solve global pricing, access, reimbursement, adherence and product delivery challenges in the life science sector. With the acquisition of Cornerstone Research Group, EVERSANA adds comprehensive HEOR capabilities at a global scale, including economic modeling, evidence synthesis, value communication, and reimbursement strategies across all stages of the product lifecycle.

“Pharmaceutical companies face strong pressures to quickly assess and quantify both the direct and indirect value of their in-market products and development pipeline,” said Jim Lang, CEO. “By adding a strong health economics and outcomes capability to our integrated commercial platform, we can now conceptualize, deliver and measure value at every stage of the product lifecycle from clinical trials to ongoing patient adherence. The Cornerstone Research Group team brings tremendous expertise that will deliver immediate value to our clients worldwide, and we’re thrilled to have them on board.”

Cornerstone Research Group will transition to the EVERSANA brand in the coming quarter, and the company’s partners, Chris Cameron, Daniel Grima and Melissa Thompson will assume leadership roles at EVERSANA.

“We’re excited to join the EVERSANA family,” shared Thompson. “The need for evidence-based research has never been greater than in today’s pharmaceutical industry. EVERSANA’s integrated platform gives our current clients immediate access to expanded services and solutions, and we also see tremendous opportunities to bring HEOR services to current EVERSANA clients. Additionally, for our employees, EVERSANA is the perfect cultural fit and provides a promising future for all.”

Financial details of the acquisition are not being disclosed.

About EVERSANA™

EVERSANA™ is the leading independent provider of global services to the life science industry. The company’s integrated solutions are rooted in the patient experience and span all stages of the product lifecycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 500 organizations, including innovative start-ups and established pharmaceutical companies to advance life science solutions for a healthier world. To learn more about EVERSANA, visit eversana.com or connect through LinkedIn and Twitter.

About Cornerstone Research Group

Cornerstone is a global health economic and market access research company supporting pharmaceutical and medical device companies. Founded in 2005, Cornerstone’s initial focus was to build on the partners’ experience in health economic research with an emphasis on global cost-effectiveness models and Canadian reimbursement submissions.  Since that time, the company has strategically grown to add a world-class evidence synthesis and data analytics team; develop outstanding payer communication capabilities; and support global programs with submissions in all major markets. For more information, visit cornerstone-research.com.

 

 

 

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CATO Research Announces Merger

Cato Research, LLC (CATO) announced today that it has merged with Specialized Medical Services-oncology BV (SMS-oncology) to bolster its portfolio of global solutions dedicated to supporting life science organizations with advancing drug development.  The combined company will transition to the new name, CATO SMS, in the coming year.

By joining forces, CATO and SMS-oncology expand their presence across Europe and North America, deepen their oncology and regulatory expertise, and broaden their suite of services. Headquartered in Schiphol, the Netherlands, SMS-oncology is one of the few full-service contract research organizations (CROs) in the world dedicated to oncology.  The boutique CRO’s deep expertise in designing and executing complex oncology and immuno-oncology trials complements CATO’s regulatory knowledge and drug development services.

“CATO and SMS-oncology bring a powerful blend of capabilities focused on supporting small and mid-sized biotech and pharmaceutical companies with their innovative research.  Our companies share strong cultural values, anchored by a commitment to high quality and personalized customer service.  Together, we’re focused on growing and enhancing our services to build an industry-leading company specializing in complex therapeutic areas, including oncology, cell and gene therapy, and rare treatments,” said Mark A. Goldberg, M.D., executive chairman, CATO.

Philine van den Tol, CEO, SMS-oncology, added, “Coming together with CATO is an important step toward our objective of providing clients with a broader set of solutions supported by the high-touch service that they expect from us.  We can now offer our clients an expanded geographic footprint in the United States and Canada, as well as additional access to valuable drug development and regulatory expertise.  We’re especially excited to engage CATO’s expertise in working with the FDA.”

Ms. Van den Tol and the management team will continue to lead SMS-oncology's operations. Dr. Goldberg will serve as executive chairman of the combined entity.  CATO and SMS-oncology will operate under their respective brands until the transition to their new name, CATO SMS, is complete.

CATO’s merger with SMS-oncology is the latest step in the company’s strategic expansion since Water Street Healthcare Partners and JLL Partners invested in the company last year. The health care investors recently announced the acquisition of THREAD, a provider of innovative technology that enables virtual research.  CATO can engage THREAD on opportunities where clients want to leverage its platform to modernize their clinical studies and registries through technology-enabled interactions.

Financial terms of the merger are not being disclosed.  Achelous Partners LLC served as financial advisers to SMS-oncology on the merger.

About SMS-oncology

SMS-oncology is Europe’s leading full-service CRO solely dedicated to oncology. With its unique business model of integrating oncology drug development affairs and clinical operations, SMS-oncology covers the whole value chain from trial design to setup, management and completion of phase I to IV oncology trials. With nearly 100 employees, SMS-oncology operates in more than 20 countries from its headquarters, located near Schiphol Airport in the Netherlands and EMA in Amsterdam, as well as locally from Belgium, Germany, Spain and the Nordics. SMS-oncology nurtures a high-performance culture; its dedicated team of professionals thrive on accomplishing operational excellence, extraordinary results, and cooperating toward the goals and milestones of its clients. Please refer to sms-oncology.com.

 About Cato Research

Founded in 1988 by Dr. Allen Cato and Lynda Sutton and headquartered near Research Triangle Park, North Carolina, Cato Research specializes in drug development support for clients in the pharmaceutical, biotechnology, and medical device industries. Services range from design and management of preclinical and clinical studies to submission of regulatory documents required for marketing approval. With a staff of more than 200 and offices located in the United States, Europe, Canada, Israel, and South Africa, the Cato Research team consistently demonstrates an unsurpassed level of responsiveness, flexibility, attention to detail, and passion for bringing their clients’ products to market with speed and cost-effectiveness.  For more information about Cato Research, visit cato.com.

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Discovery Becomes Global Center of Excellence for PacBio Long-Read Genomic Sequencing

Discovery Life Sciences™(Discovery) announced today its substantial investment in long-read genomic sequencing technology from Pacific Biosciences (PacBio).

The instrumentation will complement the existing infrastructure of HudsonAlpha Discovery™, Discovery’s genomic sequencing and bioinformatics division.  HudsonAlpha Discovery will continue to scale sequencing over a range of technologies, creating the most comprehensive infrastructure to support the most accurate and complete analysis of complex genomic and transcriptomic projects possible. This investment creates a PacBio® Center of Excellence for long-read sequencing.

Existing short-read sequencing is like a complex jigsaw puzzle. Researchers align and merge many short DNA sequences to reconstruct a representation of the reference genome, but the alignment and assembly from short reads has limitations. Long-read sequencing provides additional power and context; recent studies show that it detects structural variants in disease genes that are missed by previous methods. Combining short- and long-read sequencing creates a depth and breadth to comprehensively understand the complex genomics driving cancer and other diseases.

The multiple PacBio Sequelâ II Systems that Discovery is acquiring provide highly accurate long reads and supplement HudsonAlpha Discovery’s existing short-read platforms to add resolution across both DNA and RNA applications. In addition to whole genome sequencing for variant detection, the Sequel II Systems will provide high-volume capacity for long-read RNA sequencing of gene isoforms. These sequencing services, combined with the HudsonAlpha Discovery proprietary methods for long-fragment RNA isolation from FFPE and access to millions of FFPE biospecimens, deliver a novel set of applications to the entire genomics community.

Most cancer biospecimens are stored in a Formalin-Fixed, Paraffin-Embedded (FFPE) format, and Discovery has the largest global inventory—millions of high-quality FFPE biospecimens.  HudsonAlpha Discovery is committed to extracting the highest resolution data from those specimens and has developed a proprietary methodology to extract long transcripts from FFPE materials. The investment in the Sequel II System will be used to characterize these transcipts for gene fusions, RNA modifications, and other structural alterations that are best resolved with long-read sequencing.

“This investment enables HudsonAlpha Discovery to conduct long-read sequencing of thousands of high-quality human genomes per year. We’ve developed methods to significantly improve the integrity of RNA isolated from FFPE; now we are marrying the PacBio technology with our proprietary method to improve our ability to see the RNA transcripts in cancer biology,” said Shawn Levy, PhD, Discovery’s chief scientific officer, Genomics. “With these holistic solutions, Discovery is uniquely positioned to help researchers advance their understanding of complex diseases by providing a single partner from specimen selection to short- and long-read sequencing and, finally, to data interpretation and actionable result delivery.”

"We are pleased to be working closely with Discovery Life Sciences as they set up the highest-throughput PacBio Sequencing facility in the world with a goal to advance disease research and population studies," said Jonas Korlach, PhD, chief scientific officer at Pacific Biosciences. “We continue to aggressively invest in our laboratory resources to support the rapid advancement of our clients’ research timelines and objectives,” said Glenn Bilawsky, Discovery’s CEO. “Our long-read sequencing services will provide the market with a single source to derive high-quality data from our PacBio systems, in combination with our other offerings in sequencing, cell-based, immunohistochemistry services.  Discovery is the first to bundle this combination of scientific services and technology platforms alongside one of the largest global biospecimen inventories under one brand.”

About Discovery Life Sciences 

Discovery Life Sciences is the global market leader in biospecimen analysis, procurement, distribution, and scientific services for the pharmaceutical, biotechnology, and diagnostics industries. HudsonAlpha Discovery is Discovery’s sequencing and bioinformatics division, a globally recognized service laboratory that leverages the most current genomic research technologies to comprehensively support discovery, translational, and clinical research. Driven by science, the Discovery team engages with customers in an innovative, consultative approach to overcoming obstacles and reaching a faster end result. We are Science at your Service™! For more information, visit dls.com.

 

 

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Viant Acquires Meraqi Medical

Viant, a leading global services provider to the medical device industry, announced today that it has acquired Meraqi Medical.  It is the fourth acquisition that Viant has completed in two years to expand its clinical market expertise, global footprint, and portfolio of solutions.

Headquartered in Silicon Valley, Meraqi extends Viant’s expertise in front-end design and development for interventional technologies and bioelectronics, and expands Viant’s platform within minimally invasive surgical devices. Meraqi also adds a West Coast design and development (D&D) hub to Viant’s East Coast D&D Center and global network of manufacturing sites. Viant will incorporate Meraqi’s engineering expertise and design capabilities into its suite of solutions that support customers with expanding their product offerings, optimizing their supply chains, and improving quality while managing costs.

“Meraqi stands out for its deep technical knowledge, passion for innovation and agility to help customers advance their technologies,” said Declan Smyth, president of Franchise, Viant. “Adding Meraqi’s expertise to Viant’s breadth of capabilities and global scale provides our customers with expanded access to end-to-end solutions for all their medtech needs.”

“Joining Viant will give our customers access to a world class, quality focused organization with global manufacturing facilities and scale,” said founder Al Hershey. “Additionally, this will enable Meraqi to accelerate the expansion of our capabilities and better serve our customers. Our shared passion for supporting innovative devices to address unmet patient needs and loving what we do makes this a very exciting time for our two companies and for our customers.”

Since partnering with Water Street Healthcare Partners and JLL Partners in 2016, Viant has grown to become one of the world’s premier outsourced manufacturers of medical devices.  The company has expanded its portfolio of design, development, and manufacturing capabilities to offer end-to-end solutions to medical device organizations.  Most recently, Viant announced the appointment of Alton E. Shader, a veteran medical device leader, to chief executive officer to accelerate the company’s strategic expansion.

About Meraqi Medical

Meraqi is a medical device design, development and manufacturing services firm that was established by industry veterans with an unyielding passion for innovation and for servicing customers. With many decades of combined experience, the Meraqi team provides expertise in bioelectronics and interventional and minimally invasive surgical devices. Meraqi provides everything from early brainstorming, concepting, and prototyping to clinical and commercial manufacturing. Meraqi has class 7 & 8 certified cleanrooms and is ISO13485:2016 certified. Learn more at www.meraqi.com.

About Viant

Viant is a global strategic manufacturing partner that helps medical device OEMs bring complex medical devices and components to market. Our deep materials expertise, combined with our experience in design, manufacturing, assembly, and packaging, allow us to bring our customers’ medical technology solutions to life. With nearly 6,000 associates across 24 locations worldwide, we are the perfect combination of big company scale and small company attention. For more information, visit www.viantmedical.com.

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Water Street Acquires THREAD

Water Street and JLL Partners announced today that they have acquired THREAD, an innovative provider of technology that enables virtual research approaches to modernize clinical studies and registries. Headquartered in Orange County, Calif., THREAD will leverage the investment to accelerate the expansion of its global offering.

THREAD’s platform and services are designed to make clinical trials and registries more accessible and less costly by replacing patient visits at investigator sites with technology-enabled interactions at more convenient locations, including patients’ homes. Growing numbers of biopharma, life science companies, contract research organizations (CROs), and non-profit researchers are engaging THREAD’s virtual research platform to capture clinical study data in between, as well as during or instead of clinic visits.  The company’s platform supports an integrated suite of user-friendly, highly configurable applications that support eConsent, ePRO/eCOA, patient engagement, telehealth virtual visits, site data capture, and medical device and consumer sensor connection.

“Water Street and JLL are the ideal partners for THREAD to accelerate our strategic expansion and solutions to our customers. Their life science expertise and resources will enable us to grow in a thoughtful way that will benefit all of our customers,” said Jeff Frazier, founder and chief executive officer, THREAD.

John Reites, partner and chief product officer, THREAD, added, “We’re excited to expand THREAD’s platform to modernize clinical research for our customers, participants, and sites.  This partnership will further our commitment to make virtual research approaches the standard in studies and registries.”

Water Street and JLL will invest their combined industry experience and network of resources to further develop and expand THREAD’s offering on a global scale. With this support, THREAD will extend its platform to offer customers a broader range of options that can be configured to address their individual needs by engaging components of its technology as standalone point solutions or activating its full suite of capabilities.

Mark A. Goldberg, M.D., a veteran life science leader who has been appointed executive chairman of THREAD, remarked, “THREAD’s platform is highly valued for its user-centric design, flexibility, ease of use, and broad functionality. Working together with our customers, we have the exciting opportunity to advance the next generation of clinical trials to accelerate product development and innovation.”

Last fall, Water Street and JLL invested in CATO Research, a company specializing in drug development support.  Dr. Goldberg, who also serves as executive chairman of CATO, said, “there are many opportunities for THREAD and CATO to collaborate in developing emerging approaches to clinical development.”

THREAD’s leadership team will continue to spearhead the company’s day-to-day operations, and report to Dr. Goldberg. Financial terms of Water Street and JLL’s investment are not being disclosed.

About THREAD

THREAD is a virtual research platform used by biopharma, CROs, non-profit researchers, and life science organizations to capture global clinical study data in between, as well as during and instead of clinic visits. Study sponsors and CROs work with THREAD to provide a more modern and technology-enabled experience for patients, sites, and their study teams. THREAD's platform and supporting services are designed to help customers reduce study launch timelines and budgets with Virtual Visits.  Visit www.THREADresearch.com for more information.

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Water Street Company Achieves Another FDA Approval

Water Street announced today that its development partnership with a leading medical products company has resulted in the U.S. Food and Drug Administration (FDA) approval of Insulin Human in 0.9% Sodium Chloride Injection (Insulin Human).  It is the first and only ready-to-use insulin for IV infusion.

The new presentation of Insulin Human features an extended shelf life of 30 days at room temperature (77 degrees Fahrenheit /25 degrees Celsius) or 24 months if refrigerated (36 – 46 degrees Fahrenheit/2-8 degrees Celsius) in the original carton to protect from light.  The product is provided in a standardized concentration of 100 units/100 mL in a flexible plastic container.

The approval of Insulin Human marks the eighth drug product successfully developed by Water Street’s company, Celerity Pharmaceuticals, LLC. Celerity funded, developed, and led the approval process of Insulin Human. After gaining FDA approval, Celerity transferred ownership of the product to its medical products company partner.

“We’re honored to be part of successfully developing this innovative presentation of insulin to advance our partner’s goal of introducing medicines in new presentations that help promote clinician efficiency and advance patient care,” said Dan Robins, Ph.D., president, Celerity.

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Pathnostics Announces CEO Appointment

Pathnostics, a diagnostic solutions company, announced today that its board of directors has appointed Samuel D. Riccitelli as chief executive officer, effective July 29, 2019.  With more than 30 years of experience in global laboratory services and specialty testing, Mr. Riccitelli will spearhead the fast-growing company’s continued expansion.  He will assume the CEO position from co-founder, David Pauluzzi, who will continue to serve on the board of directors as part of a planned leadership transition.

Mr. Riccitelli began his career as a biomedical engineer before joining Becton, Dickinson and Company,  where he led a patient safety start-up venture.  As executive vice president and chief operating officer at Genoptix, Inc., Mr. Riccitelli directed the company’s rapid growth and successful transformation into one of the world’s leading diagnostic reference laboratories. More recently, he served as president and CEO of Signal Genetics, Inc., a molecular diagnostic company acquired by Quest Diagnostics, Inc. and Miragen Therapeutics, Inc.

“Sam is an entrepreneurial executive who is passionate about building high-growth, high-service laboratory and specialty testing businesses.  His industry knowledge and operations experience will be key to advancing our goal of expanding Pathnostics’ innovative technology into new tests and therapies,” said Mr. Pauluzzi. “It’s been incredible to be part of building Pathnostics from the ground up and Sam is the ideal leader to take our company to the next level.”

Founded in 2014, Pathnostics specializes in diagnostic tests and services across a range of therapeutic areas, including urology, women’s health, and gastroenterology.  The company has grown rapidly in recent years as increasing numbers of specialists have adopted its Guidance test, which uses proprietary molecular technology to simultaneously diagnose and guide antibiotic treatment for complex, recurring urinary tract infections.  Earlier this year, Pathnostics chose to partner with Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, to extend its technology and product portfolio into new tests and therapeutic areas.

“It’s truly a privilege to join Pathnostics and be part of expanding its unique technology to benefit patients in new ways,” said Mr. Riccitelli.  “Dave and the team have established a robust platform that provides substantial opportunity to grow Pathnostics, and I’m eager to begin working with everyone to bring these opportunities to fruition.”

About Pathnostics

Pathnostics is a diagnostic solutions company that pioneers innovative approaches for improved patient care.  Leveraging its proprietary technology, the company develops solutions that address diagnostic and therapeutic issues for physicians and patients.  Headquartered in Irvine, Calif., Pathnostics is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.  For more information about the company and its portfolio of products, visit pathnostics.com.

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Key Surgical Signs Agreement to Acquire Insitumed

Key Surgical LLC, a leading global provider of sterile processing and operating theatre supplies, announced today that it has signed an agreement to acquire Hamburg, Germany-based Insitumed GmbH. The strategic acquisition will broaden Key Surgical’s portfolio of endoscopy products and further extend its global footprint.

The acquisition of Insitumed is Key Surgical’s most recent initiative to expand its suite of products and supplies focused on improving patient safety and surgical outcomes. Since merging in 2017 with Interlock Medizintechnik GmbH and Clinipak, Ltd., Key Surgical has grown to serve more than 10,000 hospitals and surgical centres across 70 countries.  The company will add Insitumed’s endoscopy offering to its portfolio of more than 5,000 products and supplies utilized for patient procedures, and cleaning and sterilizing surgical instrumentation.

JV Wulf, president, Key Surgical Europe, said, “Insitumed is highly regarded for its innovative customer-centric product development and its strong relationships with hospital-based endoscopy departments and office-based practices.  Bringing our companies together marks another exciting step forward for Key Surgical, as we continue to broaden and enhance our product offering to benefit our customers and their patients around the world.”

Wolfgang Drews, managing director, Insitumed, added, “We’re pleased to be joining with Key Surgical. Our product offerings are very complementary and together we have an important opportunity to significantly enhance our product offering to customers and extend our reach into new geographic markets.”

Financial terms of the acquisition are not being disclosed.

About Key Surgical

Key Surgical is a leading global provider of sterile processing and operating room supplies. The company offers a broad suite of thousands of products and supplies focused on instrument reprocessing, operating room, and patient procedures to nearly 10,000 facilities in 70 countries. Headquartered in Eden Prairie, Minnesota, Key Surgical is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information, visit keysurgical.com.

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Viant Appoints Longtime Medical Device Leader to CEO

Viant, a leading global services provider to the medical device industry, announced today that its board of directors has appointed Alton E. Shader to chief executive officer, effective July 15, 2019.  Mr. Shader, who brings more than 20 years of medical device leadership experience to Viant, will spearhead the company’s continued expansion.  He assumes the CEO position from Brian King, who will continue to serve as a senior advisor to the company.

Mr. Shader is highly regarded for driving growth across a range of medical device companies.  As president of Front Line Care for Hill-Rom Holdings, Inc., he spearheaded two major acquisitions, including Welch Allyn, to establish the company’s fastest-growing and most profitable global business. Mr. Shader previously led North America for Hill-Rom, where he designed and implemented a customer-focused commercial organization, which achieved record levels of profitable growth.  Prior to Hill-Rom, Mr. Shader held senior positions in Europe for Baxter International before being promoted to general manager of its U.S. Renal business. He most recently served as president and CEO of Vein Clinics of America.

“Alton’s laser focus on serving the customer, combined with his operational discipline and extensive global experience make him the ideal leader to guide Viant through the company’s next stage of expansion,” said John Greisch, chairman, Viant.  “I want to take a moment to thank Brian for helping us to establish Viant’s strong foundation. We have a tremendous opportunity to build on Viant’s global network of solutions to address the full continuum of our customers’ manufacturing services needs.”

Viant has bolstered its portfolio of manufacturing solutions to the medical technology industry.  Over the past three years, the company has made significant organic investments and completed three strategic acquisitions to become one of the world’s leading outsourced contract manufacturers of medical devices.

“Viant’s commitment to becoming a long-term strategic partner to the world’s leading medical device companies is why I wanted to become part of this organization.  I’m excited to build on Viant’s end-to-end solutions to support our customers by expanding their product offerings, optimizing their supply chains, and improving quality while managing costs on a global scale,” said Mr. Shader.

About Viant

Viant is a global strategic manufacturing partner that helps medical device OEMs bring complex medical devices and components to market. Our deep materials expertise, combined with our experience in design, manufacturing, assembly, and packaging, allow us to bring our customers’ medical technology solutions to life. With nearly 6,000 associates across 24 locations worldwide, we are the perfect combination of big company scale and small company attention. For more information, visit www.viantmedical.com.

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Perrigo Announces Another FDA Approval in Partnership with Water Street Company

Perrigo Company plc (NYSE; TASE: PRGO) today announced its product development partner received final approval from the U.S. Food and Drug Administration for its AB-rated Abbreviated New Drug Application (“ANDA”) referencing Metrogel-Vaginal® (metronidazole vaginal gel 0.75%).  Perrigo will acquire full ownership of the ANDA under a pre-existing arrangement with its partner within 30 days and anticipates launching this product immediately thereafter.

Annual market sales for MetroGel-Vaginal® for the 12 months ending May 2019 were approximately $100 million as measured by IQVIA™.

The product is manufactured by Perrigo and was developed through its partnership with Capstone Development Solutions, a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.

Perrigo Executive Vice President and President Rx Pharmaceuticals Sharon Kochan stated, “This launch exemplifies Perrigo's commitment to developing and launching products within the extended topicals category. Our robust R&D pipeline remains focused on introducing more products that will create savings for patients and the U.S. healthcare system.”

 About Perrigo

Perrigo Company plc (NYSE;TASE: PRGO) is dedicated to making lives better by bringing “Quality, Affordable Self-care Products™” that consumers trust everywhere they are sold. The Company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at http://www.perrigo.com.

 Forward-Looking Statements

Certain statements in this press release are “forward-looking statements.” These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “forecast,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, including: the timing, amount and cost of any share repurchases; future impairment charges; the success of management transition; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company’s appeal of the Notice of Assessment (the “NoA”) issued by the Irish tax authority and the Notice of Proposed Assessment (“NOPA”) issued by the U.S. Internal Revenue Service and the impact that an adverse result in such proceedings would have on operating results, cash flows, and liquidity; potential third-party claims and litigation, including litigation relating to the Company’s restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NoA and the NOPA; potential impacts of ongoing or future government investigations and regulatory initiatives; the impact of tax reform legislation and healthcare policy; general economic conditions; fluctuations in currency exchange rates and interest rates; the consummation of announced acquisitions or dispositions and the success of such transactions, and the Company’s ability to realize the desired benefits thereof; and the Company’s ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and other initiatives.  Statements regarding the separation of the RX business, including the expected benefits, anticipated timing, form of any such separation and whether  the separation ultimately occurs, are all subject to various risks and uncertainties, including future financial and operating results, our ability to separate the business, the effect of existing interdependencies with our manufacturing and shared service operations, and the tax consequences of the planned separation to the Company or its shareholders. Furthermore, the Company may incur additional tax liabilities in respect of 2016 and prior years or be found to have breached certain provisions of Irish company law in connection with the Company’s restatement of previously-filed financial statements, which may result in additional expenses and penalties. These and other important factors, including those discussed under “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2018, as well as the Company’s subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

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Eversana Announces Acquisition

EVERSANA,™ the leading independent provider of commercial services to the life science industry, today announced the acquisition of Alamo Pharma Services®, Inc. and BexR Logistix®, LLC Telesales from Mission Pharmacal® Company.  Headquartered in Doylestown, Pa., Alamo is a leader in field sales, marketing and clinical solutions for pharmaceutical and biotech companies. BexR Telesales, operated from Broomfield, Colo. and previously a part of BexR Logistix, is also included in today’s acquisition.

EVERSANA offers a fully integrated and independent commercial services platform designed to solve pricing, access, reimbursement, adherence and product delivery challenges in the life science sector. With the acquisition of Alamo and BexR Telesales, EVERSANA adds comprehensive Field Solutions powered by digital and data capabilities, including sales representatives, telesales, reimbursement specialists, key/national account managers, clinical nurse educators, medical science liaisons, recruiting, training and complete back office operational support.

“Pharmaceutical companies face unprecedented challenges and need a fully resourced partner to drive commercial success from planning and operations to front-line brand representation,” said Jim Lang, CEO. “Field solutions are rapidly becoming more sophisticated, clinically oriented and data-driven. Adding Alamo’s leadership in this space to our full commercial platform creates a seamless experience where we can both describe value and capture the data to measure value for all patients, payers, and providers.”

Alamo and BexR Telesales operations will transition to the EVERSANA brand in the coming quarter and Alamo’s Chief Operating Officer Peter Marchesini will become president, Field Solutions and his team will transition immediately to EVERSANA.

“For our clients and employees, this is the perfect move during a pivotal time in the life science services industry,” shared Marchesini. “Being a part of EVERSANA’S emerging platform gives our current clients immediate access to expanded best-in-class services and solutions to address any commercial challenge. Additionally, our employees will grow with an organization that offers impressive benefits and opportunities for professional growth. We’re excited for the next chapter and adding value for all.”

Financial details of the acquisition are not being disclosed.

About EVERSANA™

EVERSANA™ is the leading independent provider of global services to the life science industry. The company’s integrated solutions are rooted in the patient experience and span all stages of the product lifecycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 500 organizations, including innovative start-ups and established pharmaceutical companies to advance life science solutions for a healthier world. To learn more about EVERSANA, visit eversana.com or connect through LinkedIn and Twitter.

About Mission Pharmacal

Mission Pharmacal Company is a privately held pharmaceutical company based in San Antonio, Texas. For more than seven decades, the company has been improving the lives of people through every stage of life by manufacturing and delivering innovative, high-quality prescription, over-the-counter, and dietary supplement products in the therapeutic areas of women’s health, urology, pediatrics, dermatology, and primary care. For additional information, please visit missionpharmacal.com.

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Perrigo Announces FDA Approval in Partnership with Water Street Company

Perrigo Company plc (NYSE; TASE: PRGO) today announced its partner received final approval from the U.S. Food and Drug Administration for its AB rated Abbreviated New Drug Application (ANDA) referencing Voltaren® Gel, 1% (diclofenac sodium topical gel, 1%). Perrigo will acquire full ownership of the ANDA under a pre-existing arrangement with its partner within 30 days. The Company anticipates launching this product within the next two months.

Annual market sales for Voltaren® Gel, 1% for the 12 months ending March 2019 were approximately $350 million as measured by IQVIA™.

Perrigo will manufacture diclofenac sodium topical gel 1% in its plant in Israel. The product was developed through its partnership with Capstone Development Solutions, a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.

Perrigo Executive Vice President and President Rx Pharmaceuticals Sharon Kochan stated, “This is our fifth extended topical ANDA approval in 2019 which demonstrates our commitment to delivering high quality affordable extended topical products for patients in important categories.  Our strategic partnership with Water Street enables us to accelerate this commitment and lower the cost of healthcare for consumers.”

About Perrigo

Perrigo Company plc (NYSE;TASE: PRGO) is dedicated to making lives better by bringing “Quality, Affordable Self-care Products™” that consumers trust everywhere they are sold. The Company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at http://www.perrigo.com.

Forward-Looking Statements

Certain statements in this press release are “forward-looking statements.” These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “forecast,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, including: the timing, amount and cost of any share repurchases; future impairment charges; the success of management transition; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company’s appeal of the Notice of Assessment (the “NoA”) issued by the Irish tax authority and the Notice of Proposed Assessment (“NOPA”) issued by the U.S. Internal Revenue Service and the impact that an adverse result in such proceedings would have on operating results, cash flows, and liquidity; potential third-party claims and litigation, including litigation relating to the Company’s restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NoA and the NOPA; potential impacts of ongoing or future government investigations and regulatory initiatives; the impact of tax reform legislation and healthcare policy; general economic conditions; fluctuations in currency exchange rates and interest rates; the consummation of announced acquisitions or dispositions and the success of such transactions, and the Company’s ability to realize the desired benefits thereof; and the Company’s ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and other initiatives.  Statements regarding the separation of the RX business, including the expected benefits, anticipated timing, form of any such separation and whether  the separation ultimately occurs, are all subject to various risks and uncertainties, including future financial and operating results, our ability to separate the business, the effect of existing interdependencies with our manufacturing and shared service operations, and the tax consequences of the planned separation to the Company or its shareholders. Furthermore, the Company may incur additional tax liabilities in respect of 2016 and prior years or be found to have breached certain provisions of Irish company law in connection with the Company’s restatement of previously-filed financial statements, which may result in additional expenses and penalties. These and other important factors, including those discussed under “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2018, as well as the Company’s subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

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Orgentec Appoints Gary Winer to President & CEO

Orgentec Diagnostika, a leading specialty diagnostics company, announced today that its board of directors has appointed Gary Winer to president and chief executive officer, effective immediately.  Mr. Winer will leverage his global healthcare leadership experience to further Orgentec’s long-term growth and position as one of the world’s premier providers of diagnostic assays specializing in autoimmune and infectious diseases.

Over the course of his more than 20-year career, Mr. Winer has held senior leadership positions on an international scale with numerous diagnostic and pharmaceutical businesses, including AbbVie, Inc., Abbott Laboratories and Pfizer.  He has spearheaded successful launches and growth of blockbuster product lines, namely Celebrex and Humira, in the United States, Latin America, Asia and Japan.  During his nearly 10 years with Abbott, Mr. Winer managed the company’s diagnostic business in the U.S., Canada and Latin America before being promoted to lead Abbott Japan, the company’s largest affiliate outside the U.S.  In addition to driving strong growth, Mr. Winer was instrumental in helping the business to achieve “Best Places to Work” recognition three years in a row.  He continued in this leadership role after planning and completing the separation of Abbott’s pharmaceutical business in Japan to form AbbVie.

“The combination of Gary’s diagnostic and global experience is the ideal match for Orgentec. We’re thrilled to gain the benefit of his years of industry expertise and insight as we build and enhance Orgentec’s global reach, sizeable installed instrument base, and unique menu of diagnostic tests to support health care providers around the world with identifying rare conditions and diseases,” said Scott Garrett, chairman, Orgentec.

Founded in 1988, Orgentec is an established leader in the specialty diagnostics market, serving hospitals and reference laboratories throughout Europe and the U.S., as well as the emerging markets of Asia, Latin America and the Middle East.  Since partnering in 2014 with strategic healthcare investor Water Street Healthcare Partners, Orgentec has expanded its global footprint and menu of more than 300 tests through a combination of organic initiatives and acquisitions.  Water Street worked with Orgentec’s leadership team to recruit Mr. Winer to continue the company’s strategic expansion.

"I’m delighted to join Orgentec at this important point in the company’s evolution to becoming a world-class specialty diagnostics provider.  I’d like to thank Water Street and the board for their confidence in me to build upon the successful foundation established by my predecessor, Jim Widergren,” said Mr. Winer.  “I look forward to working with the outstanding team of professionals across the company to continue to expand our product offerings, particularly for our Alegria product line with its proprietary autoimmune and infectious disease testing menu."

In addition to his appointment as president and CEO, Mr. Winer will serve as a member of Orgentec’s board of directors.  Jim Widergren will continue to lead Corgenix, Orgentec’s U.S. business subsidiary, and also will continue to serve as a member of Orgentec’s board.

About Orgentec

Headquartered in Mainz, Germany, ORGENTEC Diagnostika offers one of the industry’s most comprehensive portfolios in autoimmune diagnostics and cardiovascular diagnostics with additional strengths in infectious disease and organ function testing. Alegria®, the automated instrument for autoimmune and infectious disease serology enables labs to complete multiple assays and deliver faster results at minimum cost. With subsidiaries in Austria, Hungary, France, U.S. and China, as well as an established global network of distribution partners, ORGENTEC’s products are benefitting patients in over 100 countries around the world.  Orgentec is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.  For more information, visit orgentec.com.

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Cato Research Appoints Life Sciences Leader & Innovator to Executive Chairman

Cato Research, LLC (CATO), a global provider of regulatory and clinical research services, announced today that its board of directors has appointed Mark Goldberg, M.D. to executive chairman, effective immediately.  Dr. Goldberg brings to CATO more than 25 years of leadership and innovation experience in building premier life sciences businesses.

Dr. Goldberg recently served as president and COO of PAREXEL International Corporation.  During his 21 years with the company, Dr. Goldberg leveraged his medical, technical and clinical research expertise to drive business results and build PAREXEL into one of the world’s leading biopharmaceutical service providers.  He joined PAREXEL to start the company’s Medical Imaging business and later helped to found its technology subsidiary, Perceptive Informatics (later renamed PAREXEL Informatics).  Dr. Goldberg began his career as a radiologist and clinical director of Teleradiology at Massachusetts General Hospital (MGH) after completing his postdoctoral training at Brigham & Women’s Hospital and MGH.  He also helped found a telehealth spin-off from MGH.  Dr. Goldberg currently serves on the board of Intensity Therapeutics, Inc., a clinical-stage biotechnology company.

“We’ve been searching for additional leadership talent to support our goal of building CATO into a leading clinical and regulatory services provider.  Mark is the perfect fit with his wealth of experience in our industry,” said Lynda Sutton, co-founder and president, Cato Research.  “I’m excited to have Mark on our team to help guide our growth and I look forward to working with him.”

Dr. Goldberg’s appointment follows CATO’s partnership in 2018 with strategic healthcare investors, Water Street Healthcare Partners and JLL Partners.  The firms worked with CATO’s leadership team to recruit Dr. Goldberg to continue CATO’s expansion and support their collective goal of building CATO into a leading clinical and regulatory services provider.

“I’m honored to have the opportunity to join Cato Research, which has built an exceptional reputation for regulatory expertise and clinical excellence over the past three decades.  This is a credit to the company’s leadership and employees.  I look forward to working together to drive growth and expand CATO’s capability set to continue to deliver outstanding service and results on behalf of our customers,” said Dr. Goldberg.

About Cato Research

Founded in 1988 by Dr. Allen Cato and Lynda Sutton and headquartered near Research Triangle Park, North Carolina, Cato Research is a full-service contract research and development organization providing strategic and tactical support for clients in the pharmaceutical, biotechnology, and medical device industries. Services range from design and management of preclinical and clinical studies to submission of regulatory documents required for marketing approval. With a staff of approximately 300 and offices located in the United States, Europe, Canada, Israel, and South Africa, the Cato Research team consistently demonstrates an unsurpassed level of responsiveness, flexibility, attention to detail, and passion for bringing their clients’ products to market with speed and cost-effectiveness.  For more information about Cato Research, visit cato.com.

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Discovery to Add the HudsonAlpha Genomic Services Laboratory to Expand Scientific Capabilities

Discovery Life Sciences (Discovery) announced today that it has entered into an agreement to add the Genomic Services Laboratory (GSL) of the HudsonAlpha Institute for Biotechnology, one of the world’s premier gene sequencing and bioinformatics laboratories, to form a new division: HudsonAlpha Discovery.

The new division, in combination with Discovery’s current global biospecimen and analytic services, will provide the highest quality of clinically and scientifically annotated biospecimens, gene sequencing, bioinformatics, and laboratory services to the global pharmaceutical, biotechnology, and diagnostics industries.

This agreement comes on the heels of Discovery’s recent European acquisitions and expansion which cemented the company’s position as the global leader in biospecimen analysis, procurement, processing, and distribution. Genetic sequencing and bioinformatics services are a natural extension of Discovery’s core capabilities. Its new HudsonAlpha Discovery division adds outstanding scientists, clinicians, analysts, and bioinformaticians to provide solutions to complex and sophisticated research challenges—for the first time through a single strategic global provider.

“The HudsonAlpha Institute for Biotechnology is a remarkable place. We embrace its vision of advancing science and education to improve health around the world,” said Discovery CEO Glenn Bilawsky. “We are so very proud that the Institute selected Discovery to be the stewards of the Genomic Services Laboratory going forward, and of their investment in the future of our company. The HudsonAlpha Discovery platform is one of the largest global installations of the newest Illumina NovaSeqä technology, which gives us the scale, speed, and quality to tackle the size and complexity of any sequencing project. With HudsonAlpha Discovery, Discovery Life Sciences is the largest and most capable company to satisfy global market demand for a single strategic partner to provide biospecimens, pathology, immunohistochemistry, flow cytometry, sequencing, and bioinformatics services to accelerate product development.”

The HudsonAlpha GSL was built at the Institute by renowned genomic scientist, Shawn Levy, PhD, establishing itself as one of the world’s largest academic genomics laboratories. It has supported thousands of research projects and processed hundreds of thousands of biospecimens for healthcare institutions, companies, and investigators around the world. Its scientists provide insights into the understanding of many complex disorders, including cancer, autism, ALS, bipolar disorder, schizophrenia, diabetes, and rare and undiagnosed diseases. HudsonAlpha Discovery is the Institute’s tenth research and technology transfer for commercialized use and the largest to date.

“We are taking two organizations with amazing proficiencies and joining them to achieve capabilities that neither could accomplish alone,” said Dr. Levy. “We have limitless opportunities as a specialized development partner. Together with the Discovery Partners' clinical network, we can offer high-density genomic data to provide insights to any project.”  Dr. Levy joins Discovery Life Science’s executive team as chief scientific officer, Genomics, and will continue as a faculty investigator with HudsonAlpha Institute.

About Discovery Life Sciences

Discovery Life Sciences is a global market leader in biospecimen analysis, procurement, and distribution for the pharmaceutical, biotechnology, and diagnostics industries. Driven by science, the Discovery team engages with customers in an innovative, consultative approach to overcoming obstacles and reaching a faster end result. We are Science at your Service! For more information, visit dls.com.

About HudsonAlpha Genomic Services Lab

The HudsonAlpha Genomic Services Laboratory (GSL) is a globally recognized service laboratory that leverages the most current genomic research technologies to comprehensively support discovery, translational, and clinical research. The GSL’s expertise focuses on high-throughput sequencing, workflow optimization, and developing cutting-edge analytical pipelines.

About HudsonAlpha Institute for Biotechnology

HudsonAlpha Institute for Biotechnology is a nonprofit institute dedicated to developing and applying scientific advances to health, agriculture, learning, and commercialization on one campus. Opened in 2008, HudsonAlpha’s vision is to leverage the synergy between discovery, education, medicine, and economic development in genomic sciences to improve the human condition around the globe. To learn more, visit hudsonalpha.org.

 

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Water Street’s Development Partnership Achieves Another FDA Approval

Water Street announced today that its development partnership with a leading medical products company has resulted in the U.S. Food and Drug Administration (FDA) approval and launch of the ready-to-use cardiovascular medication, eptifibatide.  It is the first and only presentation of eptifibatide in a flexible container.

The approval of eptifibatide marks the seventh drug product successfully developed by Water Street’s company, Celerity Pharmaceuticals, LLC. Celerity both funded and led the development and approval of eptifibatide through its strategic partnership with the medical products company. Following FDA approval of eptifibatide, Celerity transferred ownership to its partner, which is commercially launching the new product in the United States.

“We are honored that our partner entrusted us to develop this new presentation of eptifibatide – the first of its kind available in a flexible container,” said Dan Robins, Ph.D., president, Celerity.  “We’re pleased that our work together has advanced our partner’s goal of engaging its innovative technologies with medicines that will benefit both patients and clinicians.”

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Water Street Announces New Investment

Water Street announced today that it has completed a new investment in Irvine, Calif.-based diagnostic solutions company, Pathnostics.  Water Street’s team, which has years of experience in the diagnostic and laboratory services sector, will partner with the fast-growing company to invest in and expand its innovative technology and portfolio of products.

Founded in 2014, Pathnostics specializes in diagnostic tests and services across a range of therapeutic areas, including urology, women’s health, gastroenterology and cancer.  The company has grown rapidly in recent years as increasing numbers of urologists have adopted its Guidance UTI test, which simultaneously diagnoses and guides antibiotic treatment for complex, recurring urinary tract infections.  This test utilizes proprietary technology featuring combined phenotypic sensitivity and genotypic resistance to conquer unresolved infections and rapidly provide therapeutic guidance to physicians. Studies show that Pathnostics’ patented technology has strong potential to reduce hospitalizations and improve patient satisfaction – a significant need and priority across the health care industry.

“Pathnostics’ one-of-a-kind technology is a breakthrough. Its proven ability to swiftly deliver highly accurate therapeutic guidance enables physicians to immediately treat complex and chronic infections.  We have a significant opportunity to leverage this unique technology across medical specialties to substantially improve patient care and reduce the cost of problematic infections.  We’re excited to be Pathnostics’ partner as they develop new tests and expand their product portfolio into new therapeutic areas, and continue their impressive growth,” said Scott Garrett, senior operating partner with Water Street and former chairman and CEO of Beckman Coulter.

Dave Pauluzzi, co-founder of Pathnostics, will continue to lead the company as CEO. Mr. Pauluzzi previously collaborated with Water Street when he was president and CEO of PLUS Diagnostics to grow the company into a national anatomic pathology leader.

“I’m thrilled to be working again with the Water Street team,” said Mr. Pauluzzi.  “Their industry expertise and network of resources will give us the ‘lift’ we need to take Pathnostics to the next level to benefit our customers and achieve our long-term vision of building Pathnostics into a diagnostic solutions leader.”

Pathnostics marks Water Street’s fifth investment in the diagnostics sector and first new investment of 2019.  Since its founding in 2005, the health care firm has completed more than 100 strategic transactions to build 30 market-leading companies in key sectors of health care.  Water Street targets investments ranging from $50 million to $500 million in four health care sectors: specialty distribution, medical and diagnostic products, health care services and pharmaceutical products and services.

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Discovery Launches European Expansion

Discovery Life Sciences™ (Discovery) announced a major expansion into Europe today, acquiring Sofia Bio and its extensive network of human biospecimen collection sites in Bulgaria, Romania, Poland, and the Czech Republic. Discovery also has entered into an agreement to become the exclusive industry distributor of East West Biopharma, which maintains the largest biocollection network in Ukraine.

These initiatives cement Discovery’s position as the global leader in biospecimen analysis, procurement, and distribution for the pharmaceutical, biotechnology, and diagnostics industries, and create the largest venture of its kind in Europe.

Discovery’s expansion will enhance the company’s ability to provide excellent service, capacity, and specificity of biospecimens to researchers across Europe, within 24 hours of collection.  Globally, Discovery’s clinical network will grow by more than 100 sites, to nearly 280; researchers will benefit from Discovery’s added capabilities of rapid sourcing, processing, and analysis of rare and high-demand biospecimens from Eastern Europe that have the potential to advance the diagnosis and treatment of life-threatening and chronic diseases.

“Sofia and East West Bio are highly regarded suppliers in the region and have been long-standing Discovery partners; they provide timely and high-quality services in compliance with all consent and industry regulations,” Discovery’s CEO Glenn Bilawsky said.  “As we knit this territory together, we will streamline logistics and further invest in providing outstanding processing and analytic services to the global medical research community.”

Leveraging its partnership with Water Street Healthcare Partners, Discovery’s continued expansion comes on the heels of its recent merger of four complementary bioanalytic and biospecimen businesses: Conversant Bio, Folio Bio, Discovery Life Sciences, and Phylogeny. This created a global leader in biospecimen analysis and procurement, offering the world’s largest repository of biospecimens.

The European expansion addresses the acute need for discovery, research, and development support services across the continent. “Eastern Europe’s clinical, academic, and research communities are seeking expanded opportunities to participate in the rapid growth of research and development of new diagnostics and therapies.” Bilawsky said. “Discovery’s expansion will answer that need.

About Discovery Life Sciences

Discovery Life Sciences is a global market leader in biospecimen analysis and procurement for the pharmaceutical, biotechnology, and diagnostics industries.

Driven by science, the Discovery team engages with customers in an innovative, consultative approach to overcoming obstacles and reaching a faster end result. We are Science at your Service™! For more information, visit dls.com.

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