M&As this week: Precision for Medicine, Veristat and Ergomed

5th May 2016 (Last Updated May 5th, 2016 18:30)

Precision for Medicine, a subsidiary of Precision Medicine Group, has acquired Applied Immunology to expand its laboratory services in cell-based and immunoassays and to provide state-of-the-art laboratory access for its west coast biotechnology clients.

Precision for Medicine

Precision for Medicine, a subsidiary of Precision Medicine Group, has acquired Applied Immunology to expand its laboratory services in cell-based and immunoassays and to provide state-of-the-art laboratory access for its west coast biotechnology clients.

The acquisition enables Precision for Medicine to strengthen its innovative and targeted therapeutics across all areas from immunology to rare diseases to biosimilars, from research to post approval.

Veristat has acquired Spero Oncology to expand its clinical operations and serve its clients in Europe to provide feasibility studies, legal representations in European Union, clinical monitoring, project management, protocol writing and regulatory strategies.

"Spero Oncology will be integrated and operate under the Veristat brand name as part of the acquisition."

Spero Oncology will be integrated and operate under the Veristat brand name as part of the acquisition.

Ergomed has announced its agreement to acquire Haemostatix Limited to further develop its first wholly-owned development programme, to support its growth strategy and also to expand its services business.

The total sale consideration for the transaction will be approximately $50m, of which $11.7m will be paid at the closing, $9.07m through shares issue, $6m at the start of phase III and $23.4m based on sales milestones.

Stifel Nicolaus and Numis Corporation are the advisors to the acquirer.


Image: Precision for Medicine will expand its laboratory services in cell-based and immunoassays. Photo: Courtesy of Precision for Medicine.