BGL Completes the Sale of Celsis In Vitro Technologies to Bioreclamation
July 16 2013
Brown Gibbons Lang & Company (BGL) today announced the sale of Celsis In Vitro Technologies (Celsis IVT), a provider of in vitro products for the study of metabolism, to Bioreclamation, LLC, a leading provider of biological in vitro products to the drug development industry. Celsis IVT was a division of Celsis International Ltd. BGL’s Healthcare & Life Sciences team initiated the transaction and acted as the exclusive financial advisor to Celsis International.
The two companies will combine to become BioreclamationIVT, creating a one-stop shop for scientists and biomedical researchers for a complete range of biological tools they need to pursue new drug discovery and development and to validate the safety and efficacy of new compounds during pre-clinical research and for clinical diagnostics.
The combined companies’ highly specialized products will enable researchers to better understand the pharmacokinetics and drug metabolism of newly discovered compounds and the effects on disease processes. BioreclamationIVT’s sophisticated sourcing and exceptional quality control processes help reduce the time and cost of screening drug compounds in early-stage drug discovery and development.
About Celsis In Vitro Technologies
Celsis IVT is the premier global provider of specialized in vitro products for the study of metabolism, drug-drug interactions, and toxicity in drug discovery and development. Celsis IVT maintains the world’s largest inventory of cryopreserved hepatocytes, which in concert with the company’s patented LiverPoolTM technology, is an essential tool supporting ADME-Toxicity research. Celsis IVT is based in Baltimore, Maryland. For more information, please visit www.celsisivt.com.
About Celsis International Ltd.
Celsis International is a leading global provider of diagnostic tools to the pharmaceutical and consumer products industries. The company’s instruments and assays support rapid product release screening testing that delivers definitive results 80% faster than traditional microbial methods, so pharmaceutical and consumer product companies can reduce hold times, reduce inventory requirements, and reduce costs—without compromising quality. Celsis International is headquartered in Chicago, Illinois. For more information, please visit www.celsis.com.
About Bioreclamation, LLC
Bioreclamation is a worldwide provider of biological products to life science and pharmaceutical companies. The company specializes in control and disease state biological matrices, which are used in drug discovery, compound development, clinical and research diagnostics. Bioreclamation is headquartered in Westbury, New York. For more information, please visit www.bioreclamation.com.