Sartorius, a leading international pharmaceutical and laboratory tools provider, today announced the acquisition of ViroCyt Incorporated, an innovator in the field of rapid virus quantification. Based in Broomfield, Colorado, USA, the start-up is expected to achieve high double-digit growth and to generate more than $3 million sales revenues in 2016 while achieving break even underlying EBITDA by the end of 2018. The transaction values ViroCyt at approx. $16 million.
ViroCyt’s main customers come from pharma and biopharma R&D laboratories, vaccine manufacturers as well as from academic institutes focused on virology. The company’s unique automated platform, which integrates instruments, software and reagents, delivers high quality results significantly faster than commonly used methods for virus counting.
Michael Melingo, member of the Sartorius Group Executive Committee, commented,“After acquiring the cell screening specialist IntelliCyt, we are now adding a further very innovative bioanalytical tool to our Lab Products & Services portfolio that will enable our customers to obtain lab results much faster and reduce the time to clinic for virus-based pharmaceuticals.”
“Sartorius is an ideal partner for us due to its global presence and strong reputation for innovation and quality. By joining forces, we will drive further adoption of our novel approach to virus quantification both in the US and in international markets,” said Robert Kline, President and CEO of ViroCyt. He added that the acquisition by Sartorius is a very positive development for ViroCyt’s customers, employees and shareholders.
This press release contains statements about the future development of the Sartorius Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties.