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StageBio expands global presence with TPL
Posted on Wednesday, 21 October 2020 12:02
StageBio has bought Germany-based contract research organisation (CRO) provider TPL Path Labs for an undisclosed sum.
The transaction will expand the acquiror’s preclinical and clinical laboratory services and allow the company to deliver uniform technology platforms and protocols across the US and Europe.
Following the deal, the target will retain its current team and its general manager, Ayse Bal, will continue to oversee the group’s day-to-day operations.
Headquartered in Freiburg, TPL provides CRO services for customers in the pharmaceutical and medical technologies industry.
It carries out a range of good laboratory practice-compliant operations, ranging from necropsy and histological processing to the pathological evaluation of tissue samples.
TPL also contributes to international medical congresses, such as Eurotox and the European Congress of Toxicologic Pathology.
Combined, the enlarged organisation will comprise over 175 employees and offer a range of histopathology, molecular pathology and digital image analysis services, among others, to biopharma, medical device and academic researchers throughout the US.
Tom Galati, chief executive of the buyer, said: “The addition of TPL to StageBio represents a significant step in our global strategy to support researchers with the broadest range of quality solutions at every stage of discovery through clinical development.”
Bal noted: “By expanding our capabilities, scale and geographic reach, the combined organisation enables us to respond even more rapidly and effectively to our customers’ needs.”
Formed in 1999, StageBio provides necropsy, histology, pathology and specimen archiving services for customers in the biopharmaceutical, medical device and CRO segments, among others.
It operates eight sites in the US and has a presence throughout the Americas, Europe, Australia and Asia.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 4,143 deals targeting scientific research and development services providers announced worldwide in 2020 to date.
Johnson & Johnson acquired US-based Momenta Pharmaceuticals for USD 6.50 billion in the most valuable of these.
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