Biopharmaceutical Industry-Venture Capital Investors-Cell Culture Products-Ge Healthcare

GE Healthcare moves further into biopharmaceutical field, buys Xcellerex

GE Healthcare is expanding its line of tools to sell to the biopharmaceutical industry.It said Wednesday that it is acquiring Xcellerex, a Marlborough, MA-based supplier of turn-key manufacturing systems for the biopharmaceutical industry. The acquisition of Xcellerex will allow GE Healthcare to expand its offering of products and services to the biopharmaceuticals industry just as more companies are looking to manufacture recombinant proteins, antibodies and vaccines.Terms of the deal were not disclosed, but the company has raised about $55 million from such venture capital investors as Kleiner Perkins Caufield & Byers, SCG Capital and VantagePoint Venture Partners, according to its website. The company, which has about 135 employees, had 2011 revenues of about $50 million.Xcellerex says its biomanufacturing systems and production-scale bioreactors are based around single-use components and can be up and running faster and at less cost than building a traditional manufacturing facility. It says more than 20 therapeutic proteins and vaccines have been manufactured for clinical trials using its technology.Genetic Engineering & Biotechnology News points out that it's GE Healthcare's second acquisition in the category in 8 months. In August, it bought PAA Laboratories, which develops and manufactures cell culture products such as media, sera, growth supplements and reagents.- read the release
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source:http://www.fiercepharmamanufacturing.com/