Accuratus Lab Services Expands Capabilities with Acquisition of CMC Operation of Array BioPharma
EAGAN, Minn. and WELLESLEY, Mass., June 2, 2015 /PRNewswire/ -- Today, Accuratus Lab Services (Accuratus) and its principal owner, Ampersand Capital Partners (Ampersand), announced the acquisition of the chemistry, manufacturing and controls (CMC) operation of Array BioPharma Inc. (Array). Accuratus was formed in July 2014 when ATS Labs of Eagan, MN acquired Microtest Labs of Agawam, MA. Accuratus provides GMP and GLP analytical and microbial testing services to the medical device and biopharmaceutical industries, as well as manufacturers of EPA-regulated consumer products. The addition of Array's CMC operation sets the course for Accuratus to become a leading contract development and manufacturing organization (CDMO) in the pharmaceutical industry.
The Array CMC operation will be known as Avista Pharma Solutions (Avista) and housed in a state-of-the-art, 50,000 square foot laboratory facility in Longmont, Colorado. Existing Accuratus locations will continue to deliver services to clients as they have previously while leveraging the expanded capabilities of the Longmont team and facility.
Dr. Tom Burnell, Chairman of Accuratus Board of Directors, said, "The addition of Avista solidifies the commercial development strategy of Accuratus and brings a strong scientific team with demonstrated expertise in process chemistry and new drug manufacturing." Dr. Burnell added, "The entire Accuratus organization is excited to welcome the Avista team to the organization."
According to David Parker, General Partner of Ampersand, "This transaction is consistent with Ampersand's investment strategy, which is focused on growth companies operating in our target healthcare industry sectors, including laboratory services and contract manufacturing." Mr. Parker continued by saying, "The acquisition of Avista by Accuratus is particularly exciting given the exceptional scientific talent of Avista's team, who are known for solving highly difficult synthesis and manufacturing scale-up challenges for clients seeking to commercialize innovative, new chemical entities."
Under Accuratus ownership, Avista will continue to support the CMC services requirements of its former parent Array BioPharma while expanding its business with other clients. "We are pleased to complete the sale of our CMC operation, which we believe has tremendous growth potential as part of a high quality, independent CDMO business such as Accuratus," said Ron Squarer, Chief Executive Officer, Array BioPharma. "Array looks forward to continuing to work with the Avista team in support of our clinical development programs, which are critical to our future success as a company."
About Accuratus Lab Services:
Accuratus Lab Services provides GMP and GLP testing services to the medical device and biopharmaceutical industries to meet FDA standards, as well as manufacturers of EPA-regulated antimicrobial and consumer products. For more information on Accuratus, please see www.accuratuslabs.com.
About Array BioPharma:
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Six Phase 3 studies are currently advancing. These programs include three cancer drugs, binimetinib (MEK162 / wholly-owned), encorafenib (LGX818 / wholly-owned) and selumetinib (AstraZeneca). For more information on Array, please go to www.arraybiopharma.com.
About Ampersand Capital Partners:
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.
SOURCE Ampersand Capital Partners
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