OR WAIT null SECS
The buyer touted the lab company's "unique epigenetic technology and expertise."
Precision for Medicine, a division of the Precision Medicine Group, announced this week that it purchased Epiontis GmbH, a next-generation German lab company.
Epiontis was founded in 2003 and is headquartered in Berlin. The company caters to 17 of the world’s 20 largest pharmaceutical companies, assisting their clinical trials by providing novel insights with its cell monitoring and epigenetic assay development capabilities. In total, according to the joint statement announcing the deal, the lab company has contributed to nearly 100 clinical trials.
Chad Clark, president of Precision for Medicine, said the acquisition would allow his group to “significantly expand upon our immune monitoring capabilities,” noting that Epiontis’s technology “provides a faster, economically viable, and easier global solution for immune monitoring under a variety of scenarios.”
The move excited Epiontis co-founder and CEO Sven Olek. By joining the growing precision medicine development conglomerate, Dr. Olek said that his lab would now have the opportunity to introduce its proprietary epigenetic expertise and services to a wider customer base.
Precision for Medicine is one of 3 entities within the wider Precision Medicine Group, joining precisioneffect and the brand-new Precision for Value, which was formed in September. The US-based company has 900 employees in 15 locations across the US, Canada, and Europe.
Precision for Medicine said the Epiontis purchase would allow the company to further expand its global footprint. In the statement, Clark also mentioned the recent openings of Precision locations in Scotland and France.
The official statement did not list terms of the deal.