The US-based quality control instrument supplier has acquired the Swedish protein synthesis solutions provider to begin its push into biopharmaceutical development
Photo as seen on Gyros Protein Technologies website
US-based Mesa Laboratories, a diversified supplier of quality control instruments and consumables to highly regulated markets, has acquired Gyros Protein Technologies Holding (GPT). Headquartered in Sweden, GPT provides immunoassay and peptide synthesis instrument solutions that accelerate the discovery, development and manufacturing of biotherapeutics.
The acquisition will be the core of Mesa's new platform, biopharmaceutical development. The company acquired GPT from AP6 (Sixth Swedish National Pension Fund), Ampersand Capital Partners and various individual shareholders.
The acquisition price for GPT consisted of cash consideration of US$180 million, subject to purchase price adjustments. The acquisition is expected to add between $37m to $40m of revenues during the first 12 months (of which approximately 55% is recurring in nature).
"The Gyrolab immunoassay solution is a proven, microfluidic driven platform that increases repeatability and throughput while minimising sample size and manual handling," said Gary Owens, President and CEO of Mesa.
The company's peptide synthesis platform can deliver longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies.
"We believe that the Mesa Way approach to continuous improvement will help the GPT team to continue to rapidly scale both commercially and operationally," Owens added.
Dan Calvo, President of GPT, added: "Superior technology backed by deep customer intimacy has been the foundation of our success and we felt the same spirit of innovation at Mesa. We look forward to working with the Mesa team to expand the applications we deliver."