PLEASANTON, Calif., May 11, 2015 /PRNewswire/ -- Diagnostic BioSystems, an innovator of immunohistochemistry (IHC) solutions in the life science research and anatomic pathology markets, announced it has completed its growth capital financing with BroadOak Capital Partners, a life sciences focused merchant bank.
The proceeds will be used to support the company's recent expansion into its new facility as well as the further development of sales channels and strategic partnerships in the U.S. In addition, it will enable continued development of novel kits and reagents to add to its portfolio of over 1600 IHC products available worldwide.
"Diagnostic BioSystems' has a long history of high-quality manufacturing and development of affordable IHC products. Their products represent a reliable and affordable solution for researchers and pathologists around the world," said Bill Snider, Partner, BroadOak Capital Partners. "It is our pleasure to support Diagnostic BioSystems' efforts to expand their domestic operations and pursue additional strategic partnerships."
"Our partnership with BroadOak Capital brings to Diagnostic BioSystems the additional market expertise and financial backing we need to fully leverage our position in IHC and molecular diagnostics," stated Bipin Gupta Ph.D, CEO of Diagnostic BioSystems.
About Diagnostic BioSystems:
Diagnostic BioSystems is a life sciences company developing and marketing immunohistochemistry kits and reagents for the anatomic pathology and histology markets. Since our inception in 1994, the core of Diagnostic BioSystems success has centered on high-quality manufacturing and exceptional customer service and support for our portfolio of over 1600 IHC products. Through the combination of ready-to-use kits, antibodies, instrumentation and novel chromogens, Diagnostic BioSystems provides a complete suite of IHC products for clinical and research use. This coupled with ease-of-use, affordability, and worldwide distribution gives Diagnostic BioSystems' customers reliable access to the products they need most. Diagnostic BioSystems is an FDA registered medical device manufacturer, operating under FDA 21CFR Part 820 Quality System Regulations. The DBS manufacturing site is based in Pleasanton, CA as a CDPH licensed Medical Device Manufacturing facility. DBS is also certified under ISO 9001:2008 Quality Management System International standards, manufacturing CE marked medical devices, for use in the European market.