Medix Biochemica expands to Drugs of Abuse antibody and antigen manufacturing through acquisition of Biostride Inc.
• Medix Biochemica has acquired the business of US-based Biostride Inc, a pioneering manufacturer of Drugs of Abuse and Hormone Testing bioreagents with a long history of serving the In-Vitro Diagnostic (IVD) Industry worldwide
• As a result of the acquisition, Biostride’s leading portfolio of Drugs of Abuse antibodies and antigens will be available to the global IVD and drug testing customer base through Medix’s comprehensive global sales network, with local presence in North America, Europe and China
• The acquisition will also bring Biostride’s products under Medix Biochemica’s ISO 13485 certified quality management system
• The acquisition is in line with Medix’s strategy to consolidate the IVD supply chain and become the #1 supplier of critical raw materials to the IVD industry
• Biostride’s co-founder Laura Colin and President Todd Corneillie will continue as advisors to Medix Biochemica following the transaction
Medix Biochemica has acquired the business of Biostride Inc. to expand its portfolio of key raw materials for the In Vitro Diagnostics (“IVD”) industry into Drugs of Abuse antibodies and antigens. As a result of the transaction, the operations of Biostride will be merged with Medix Biochemica’s Immunodiagnostic Reagents Business Unit. Biostride’s co-founder Laura Colin and President Todd Corneillie will continue as advisors to Medix Biochemica.
Founded in 1990 by Laura Colin and Henry Tom, Biostride is a researcher, developer and primary manufacturer of antibodies and antigen and enzyme conjugates for the IVD manufacturing industry worldwide. The company is particularly well known for its main product lines of Drugs of Abuse and Hormone testing components. Biostride is headquartered in Redwood City, California.
“We are excited about the acquisition of Biostride, whose antibody and antigen products have been integrated as critical components into the Drug of Abuse tests of various world-leading test manufacturers. The acquisition will bring Biostride’s products under Medix Biochemica’s ISO 13485 certified quality management system and is perfectly in line with Medix Biochemica’s strategy to consolidate the IVD supply chain and become the #1 supplier of critical raw materials for IVD test manufacturers”,
says Steve Ferguson, CEO of Medix Biochemica.
“Joining forces with Medix Biochemica is the natural next step in Biostride’s journey. We are confident that Biostride customers will benefit from Medix Biochemica’s ISO 13485 certification, their large-scale manufacturing expertise and comprehensive global sales network, with the ability to directly support customers in North America, Europe and China. The resulting integrated supply chain is expected to improve the utility of our materials in our customers’ development and manufacturing plans“,
says Todd Corneillie, President of Biostride.
For more information:
Steve Ferguson, CEO of Medix Biochemica
Mobile: +44 7825 303680
Medix Biochemica is a global biotechnology company that develops, produces and markets monoclonal antibodies, antibody services and antigens for IVD industry, as well as diagnostic rapid tests for human healthcare worldwide. Medix Biochemica was founded in 1985 and is headquartered in Espoo, Finland. Today Medix Biochemica consists of three distinct Business Units – Immunodiagnostic Reagents BU; IVD Biomaterials BU and Diagnostic Tests BU. Immunodiagnostic Reagents BU focuses on developing high-quality monoclonal antibodies and antigens for the IVD industry and is based in Espoo, Finland. There are clear synergies with the IVD Biomaterials BU in St Louis, USA (formerly Lee Biosolutions) which develops native antigens, proteins, enzymes & other critical raw materials for use in calibrators and controls for the IVD industry. The Diagnostic Tests Business Unit produces a range of point-of-care tests which are manufactured at the Medix Biochemica site in Joensuu, Finland.
Medix Biochemica employs around 170 professionals worldwide. Since 1985, Medix Biochemica products have been used to provide an estimated 18 billion IVD tests to enable better diagnostic outcomes across the world. Read more: www.medixbiochemica.com