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NORWOOD, Mass., Aug. 6, 2021 /PRNewswire/ -- Advanced Instruments, a leading manufacturer of analytical instruments and services for bioprocessing, today announced the execution of a definitive agreement to acquire Solentim, a trusted global leader of solutions for the isolation and characterization of high value single cell clones in cell line development (CLD) applications. The acquisition expands both companies' positions in the bioprocess workflows for advanced therapies.
Advanced Instruments' OsmoTECH® portfolio of osmometers, designed specifically for the biopharm industry, are a powerful tool to characterize and optimize cell culture conditions to support clonal growth and selection as well as support upstream and downstream production processes. The Solentim products are utilized in the early stages of biologic drug development to accelerate the selection of optimal clones for production of monoclonal antibodies, gene therapies and iPSC derived cell therapies. Advanced Instruments' and Solentim's technologies are synergistic, drive efficiencies, and support improved clonal lines for use in therapeutic workflows.
"The addition of Solentim aligns with our core strategy to invest in leading technologies that deliver significant customer value across different segments in monoclonal antibody and cell and gene therapies," commented Byron Selman, President & CEO of Advanced Instruments. "The coming together of Advanced Instruments' and Solentim's core technologies, will be a powerful combination in support of clonal cell line development. With Solentim, we are acquiring innovative technologies that will enhance our ability to support customers in these workflows. We are also adding to our technical capabilities with the addition of imaging, advanced AI capabilities and automation expertise that will allow us to continue to expand on the innovative solutions that we deliver."
Solentim is based in Bournemouth, UK, with additional sites that serve customers in the United States, Europe, and Asia Pacific. This network supports the Advanced Instruments global footprint and expands our ability to support our ever-growing, combined customer base. The addition will also bring together two well-known brands with organizations that have strong commitments to their customers by providing world class scientific and customer support organizations.
"We are excited about joining the Advanced Instruments team," said Mark Truesdale, Chief Executive Officer of Solentim. "Our companies share many similar goals including a vision for sustained innovation, a strong connection to the customer globally and a desire to provide solutions that drive efficiency and deliver value in the development of life-sustaining therapies. The combination of our technologies and commercial footprint will support our shared vision for accelerated growth."
"We look forward to Solentim joining the Advanced Instruments and Patricia Industries family and continuing on the next phase of growth together," said Yuriy Prilutskiy, Head of Patricia Industries North America, a part of Investor AB, and owner of Advanced Instruments. "Patricia Industries is committed to supporting the combined Advanced Instruments and Solentim teams in their mission to deliver solutions that accelerate and improve the development of biopharmaceuticals globally, and we are excited to accelerate investment in their combined commercial and R&D capabilities. This transaction leverages Patricia Industries' healthcare and life sciences expertise and aligns with our purpose of creating value for people and society by building strong and sustainable businesses."
Advanced Instruments was represented by Rothschild & Co (financial advisor) and Simpson Thacher & Bartlett LLP (legal advisor).
Solentim was represented by EC M&A (financial advisor) and Ernst & Young LLP (legal, financial, and tax advisor).
For Further Information:
Advanced Instruments
Contact: Lisa Fahey
781-471-2106
Solentim
Contact: Mark Truesdale
+44 1202 798510
About Advanced Instruments
Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food and beverage industries. For more than 65 years, the company's innovations have helped organizations improve quality of results, achieve reliable outcomes, and increase workplace productivity. Advanced Instruments has a diverse portfolio of products, including freezing point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls. For more information, visit www.aicompanies.com
About Solentim
Solentim is the trusted global leader in workflows for antibody and cell-based therapies. Our assurance rich technologies enable the isolation, growth and characterization of high value cells while our data driven platform enables smarter decision earlier in the process. Together, our customers experience faster workflows, confidently designed for regulatory environments.
About Patricia Industries
Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period and focus on building durable value and capturing organic and non-organic growth opportunities.
About Investor AB
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include among others ABB, Atlas Copco, Ericsson, Mölnlycke and SEB. For more information, visit www.investorab.com.
