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Caprion Biosciences Combines with HistoGeneX to Expand Immune Monitoring Solutions
Wednesday 07 August 2019

7 August 2019 - Canada-based speciality CRO laboratory Caprion Biosciences and Belgium-based biomarker technologies provider HistoGeneX have agreed to combine to form a partnership facilitated by an investment from Arsenal Capital Partners, the company said.

The terms of Arsenal's investment were not disclosed.

The combined business will provide a full suite of immune monitoring and biomarker development services, from preclinical through late stage clinical trials and companion diagnostics, to biopharmaceutical organisations globally.

Caprion and HistoGeneX will build on their complementary capabilities across the drug development continuum, deep scientific expertise, exemplary quality and compliance track records, and global resources to expand and develop new services and solutions that will deliver additional value to their clients.

Caprion has been acquired from GHO Capital, a leading specialist healthcare investment advisor based in London. HistoGeneX was previously in partnership with Waterland Private Equity Investments, a European mid-market private equity investment firm focussed on buy and build strategies.

Caprion Biosciences is a provider of specialised flow cytometry immune monitoring and quantitative mass spectrometry proteomics services to the biopharmaceutical industry.

With laboratory facilities globally located in Montreal (Quebec, Canada), Fremont (California, USA), Carlsbad (California, USA), Gosselies (Belgium), Guildford (UK) and Sydney (Australia), Caprion has achieved top-tier growth in recent years both organically and through the recent acquisitions of Primity Bio and Serametrix Corp.

HistoGeneX provides pathology and biomarker assessment services spanning the drug development continuum. The company leverages its facilities located in Antwerp (Belgium), Chicago (Illinois, USA) and opening in late 2019, Jining (Shandong, China) to provide a networked footprint for global immune-oncology clinical trials.

Arsenal Capital Partners specialises in investments in middle-market speciality industrials and healthcare companies.

Since its inception in 2000, Arsenal has raised institutional equity investment funds of USD 5.3bn, completed 45 platform investments, and achieved 30 realisations.

William Blair and Company acted as financial advisor, and Kirkland and Ellis LLP and Jones Day LLP acted as legal advisors to Arsenal. Ropes and Gray LLP and Osler, Hoskin and Harcourt LLP acted as legal advisors to Caprion.

Crosstree Capital acted as financial advisor, and Allen and Overy LLP acted as legal advisor to HistoGeneX.
Date Published: 07/08/2019
Target: HistoGeneX
Country: Belgium
Sector: Biotechnology
Type: Merger
Financing: Cash
Status: Agreed
Buyer: Caprion Biosciences
Buyer Advisor: William Blair and Company , Kirkland and Ellis , Jones Day LLP
Terms of the deal were not disclosed