Ampersand Capital Partners, along with the management team of NEOMED-LABS and the NEOMED Institute, partner with management in the acquisition of NEOMED-LABS from its not-for-profit founder and parent, the NEOMED Institute.
NEOMED-LABS is a leading provider of clinical immunology laboratory services for biologics drug development, with extensive experience supporting the development of novel vaccines. Formed in April 2015 as a spin-out from GSK’s Clinical Laboratory Services unit, NEOMED-LABS has built on its world-renowned expertise in clinical immunology to form partnerships with many of the top 10 global vaccine developers, innovative biotechnology companies, and prestigious governmental and non-governmental organizations. Ampersand’s investment positions NEOMED-LABS to pursue both organic and acquisition-related growth initiatives, including expansion into adjacent markets and geographies as well as to continue to expand its presence in Quebec.
“After a successful spin-out from GSK and strong business performance during its first three years of operation, this investment from Ampersand will help NEOMED-LABS achieve the next level in its evolution and support the growing needs of our customers,” says Benoit Bouche, president and chief executive officer of NEOMED-LABS. “We are extremely pleased to enter into this new partnership with Ampersand, given their unique experience in helping laboratory-based pharmaceutical services companies like NEOMED-LABS grow. Their strategic insights will undoubtfully help us continue fueling our rapid growth trajectory, broaden our customer base and pursue our international expansion.”
“We are excited to partner with Benoit Bouche and his team at NEOMED-LABS” states Eric Lev, partner at Ampersand. “We believe NEOMED-LABS has tremendous potential in the clinical immunology field. Our goal is to actively support management to build the company into the world class leader of immunology-related assay development and clinical trial laboratory services.”
Donald Olds, president and CEO of the NEOMED Institute adds: “I am very pleased with the closing of this strategic transaction. The NEOMED Institute formed NEOMED-LABS in 2015 to preserve over 50 high paying R&D positions in Quebec and we have accomplished our mission. This transaction positions NEOMED-LABS for future success through access to new capital and the international network and expertise of Ampersand. I am highly confident that this new partnership will lead to significant future business and employment growth for the benefit of the Quebec and Canadian life sciences industry, which is a core objective of the NEOMED Institute.”