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Medix Biochemica expands its infectious diseases antibody offering through the acquisition of ViroStat

• Medix Biochemica has acquired the US-based ViroStat LLC, a global leader in infectious disease antibodies and antigens used by in vitro diagnostics (“IVD”) manufacturers.
• The acquisition significantly expands Medix Biochemica’s leading portfolio of IVD raw materials, brings complementary scientific capabilities and further strengthens its local presence in the USA.
• The transaction accelerates Medix Biochemica’s strategic vision of becoming the first-choice partner for the IVD industry worldwide and positions the organization as a market leader in the supply of critical raw materials to combat infectious diseases.

10.11.2023, Espoo, Finland - Medix Biochemica, a global leader in the supply of critical raw materials to the in vitro diagnostics industry, has acquired the US-based ViroStat. As a result of the partnership, Medix Biochemica will be able to provide its customers with market-leading infectious disease antibodies and antigens for their IVD immunoassay test development. ViroStat operations will remain in Westbrook, Maine, and its employees – including President Dr. Douglas McAllister and General Manager Duncan McAllister – will join Medix Biochemica following the acquisition.

Founded in 1985 by Dr. Douglas McAllister, ViroStat is a globally leading primary manufacturer of high- quality antibodies and antigens used for the detection of respiratory agents, STD agents, gastrointestinal agents/toxins and food borne pathogens. For example, the company is widely known for its high affinity antibodies to Influenza A, Influenza B, RSV and Strep A for use in rapid lateral flow devices. ViroStat is headquartered and has its production site in Westbrook, Maine.

“We are very excited to welcome the whole ViroStat team to Medix Biochemica,” says Steve Ferguson, CEO of Medix Biochemica. “The partnership with ViroStat provides Medix Biochemica with market-leading products for broad range of infectious diseases as well as further strengthens our scientific capabilities and network in this largest diagnostic area of IVD antibodies and antigens. There has been a long-standing business relationship between ViroStat and Medix Biochemica, and we have great respect for what Doug, Duncan and the whole ViroStat team have built over the last 38 years. I am highly excited about the portfolio and cultural fit between our teams and looking forward to jointly growing our business to enable our customers to combat infectious diseases globally”.

Douglas McAllister, President of ViroStat notes that “partnering with Medix Biochemica represents an exciting synergy of complementary product portfolios. ViroStat brings validated antibody pairs especially for rapid test IVDs at a time when worldwide demand for self-testing is poised for rapid growth while our R&D activity endeavors to stay ahead of new and emerging pathogens. We are very pleased and excited to be joining the Medix Biochemica family. This is a great fit.”

For more information, visit www.medixbiochemica.com Contact informationSteve Ferguson, CEO of Medix Biochemica

Phone: +358 9 547 680 | Email: steve.ferguson@medixbiochemica.com

About Medix Biochemica

With Finnish roots and rapidly growing global branches, Medix Biochemica is a market-leading, independent supplier of critical raw materials to the in vitro diagnostics (IVD) industry worldwide. We develop, produce, and supply high-quality antibodies, antigens, and other critical IVD raw material products to our IVD partners all around the world, enabling the delivery of accurate IVD tests to billions of patients worldwide. Our expertise covers everything from immuno- and molecular diagnostic reagents to biospecimen and custom services. With the most comprehensive raw material portfolio in the IVD world, and a team made up of the best minds in the business, we help shorten our customers’ time to market and build quality into every one of their tests. Medix Biochemica employs 270 professionals worldwide and we serve our global customers through our local teams in North America, Europe, and China. The company's main owner is DevCo Partners, a long-term oriented active owner and development partner dedicated to building world-leading companies in selected niche markets.

About ViroStat

ViroStat LLC is a primary manufacturer of infectious disease antibodies and antigens, supplying manufacturers and researchers since 1985. The US-based company is recognized for high-quality antibodies with batch consistency and supply reliability, combined with excellent customer service, technical support, and long-term relationships. 

PRESS RELEASE

Medix Biochemica has completed the acquisition of Lee Biosolutions, a leading provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry. The news about the acquisition was originally announced on 18 November 2019. The acquisition expands Medix Biochemica’s leading portfolio of bioreagents as well as provides Medix Biochemica with a strong platform for further growth in the US market. Following the transaction, Lee Biosolutions forms a Center of Excellence focused on biomaterials for the IVD industry within Medix Biochemica’s group structure. President and COO of Lee Biosolutions, Matthew Lee, heads its operations and reports to the CEO of Medix Biochemica. CEO and Chairman of the Board of Lee Biosolutions, Burton Lee, will continue as Senior Advisor over a transition period and has become a shareholder in Medix Biochemica as part of the transaction.

For more information:

Ann-Christine Sundell, Chairman of the Board of Medix Biochemica
Mobile: +358 40 536 7703
Email: ac.sundell@parnet.fi

Read more about Medix Biochemica and Lee Biosolutions:

www.medixbiochemica.com
www.leebio.com

PRESS RELEASE

Medix Biochemica expands to biomaterials for IVD industry through acquisition of Lee Biosolutions

• Medix Biochemica has signed a definitive agreement to acquire 100 per cent of the shares in Lee Biosolutions, a leading provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry
• The acquisition expands Medix Biochemica’s leading portfolio of bioreagents as well as provides Medix Biochemica with a strong platform for further growth in the US market
• Burton Lee, the CEO and Chairman of Lee Biosolutions, will step down from daily operations and become a Senior Advisor and shareholder in Medix Biochemica
• President and COO Matthew Lee of Lee Biosolutions will continue to head the operations of Lee Biosolutions
• As a result of the transaction, the complementary product portfolios of Medix Biochemica and Lee Biosolutions will be available from a comprehensive global sales network

Medix Biochemica has signed a definitive agreement to acquire 100 percent of the shares of Lee Biosolutions to broaden its portfolio of critical raw materials for the in vitro diagnostics (“IVD”) industry and strengthen its local presence in the US market. Following the transaction, Lee Biosolutions will become a Center of Excellence focused on biomaterials for the IVD industry within Medix Biochemica’s group structure. President and COO of Lee Biosolutions, Matthew Lee, will head its operations and report to the CEO of Medix Biochemica. CEO and Chairman of the Board of Lee Biosolutions, Burton Lee, will continue as Senior Advisor over a transition period and become a shareholder in Medix Biochemica as part of the transaction.

Founded in 1975, Lee Biosolutions is a manufacturer of high-quality proteins, enzymes, antigens and biologicals used for quality controls and calibrators in the IVD industry. The company is known for its outstanding capabilities in protein purification and operational excellence in raw materials sourcing. Lee Biosolutions’ customers include most of the largest global in vitro diagnostics manufacturers as well as a number of pharmaceutical and medical device companies, research institutions and forensic laboratories. The company is headquartered in St. Louis, Missouri.

“We are excited about the partnership with Lee Biosolutions, which has gained a premium reputation as a provider of high-quality biomaterials for the IVD industry and achieved strong financial results. The complementary product offerings and regional presences of Lee Biosolutions and Medix Biochemica will enable us to serve our global customer base even better in the future”, says Ann-Christine Sundell, Chairman of the Board of Medix Biochemica.

“Lee Biosolutions has, under the leadership and ownership of Burton Lee, built an impressive product portfolio, strong customer base as well as committed and knowledgeable organization over the past decades. This partnership is a great first step in our pursuit to become the #1 choice for the IVD industry in critical raw materials“, says Teemu Alahuhta, Vice Chairman of the Board of Medix Biochemica and partner of DevCo Partners.

“I am very excited about the acquisition and working with an incredible group of Medix Biochemica and DevCo Partners. Together we have all the capabilities to become a juggernaut in the IVD raw materials industry”, says Burton Lee, CEO and Chairman of Lee Biosolutions.

About Medix Biochemica

Medix Biochemica is a leading Finnish biotechnology company focusing on high quality diagnostic raw materials and rapid tests for global diagnostic markets.We develop, produce and market antibodies, antigens and antibody services for the in vitro diagnostics (IVD) industry and serve the largest multinational IVD companies. Our MedixMAB™ antibodies are in use in billions of diagnostic tests all around the world to ensure accurate diagnostic results. Medix Biochemica’s products are used in over60countries with 90% of our sales coming from global markets. The company is headquartered in Espoo, Finland with local offices in the USA and China.

For more information:

Ann-Christine Sundell, Chairman of the Board of Medix Biochemica
Mobile: +358 40 536 7703
Email: ac.sundell@parnet.fi 

We are the largest manufacturer of Native Human and Bovine  HDL  - High Density Lipoprotein,  LDL - Low Density Lipoprotein, Cholesterol and  Triglyceride in the world. We produce   Human Delipidized Serum to order. We ship internationally to all diagnostic companies, medical research institutions and universities. Place your order online or email your request.