Biolex Inc, a privately held protein therapeutics company, has acquired Epicyte Pharmaceutical, Inc., a privately held, San Diego-based company focused on the discovery and development of human monoclonal antibodies (mAbs).
The combination creates powerful mAbs capabilities at Biolex, and brings to Biolex complementary intellectual property and technology, as well as a pipeline of therapeutic antibodies in development.
"This acquisition is another milestone toward realizing our goal of becoming a leading protein therapeutics company and the partner of choice for companies seeking faster, flexible and cost-effective alternatives to current methods of protein expression," said Jan Turek, President and CEO of Biolex. "Epicyte's broad patent position surrounding plant-based production of antibodies as well as its pipeline of monoclonal antibody products fits perfectly into the LEX System's demonstrated strengths with hard-to-make proteins and mAbs."
"I am pleased that we have joined forces with Biolex, a company that has demonstrated capabilities to cost-effectively produce monoclonal antibodies in regulatory compliant, contained and controlled bioprocessing facilities," said Lloyd M. Kunimoto, President and CEO of Epicyte. "Given the synergy between the companies, I am confident that our shareholders will gain enhanced opportunities from this acquisition and that in coming years Biolex will become a leading protein therapeutics company."
"The strategic combination of Epicyte's antibody discovery and technology expertise, intellectual property portfolio and products, with Biolex' product pipeline, drug development capabilities and innovative LEX System, will create a significant force in the protein therapeutics field," said Chris Hegele, Chairman of the Biolex Board of Directors and General Partner of Kitty Hawk Capital. "This acquisition will expand the Biolex portfolio of proprietary products and, through the enhancement of the company's protein expression technology, will bring Biolex a step closer to delivering the speed, regulatory and economic benefits of the LEX System to hard-to-make proteins and mAbs."
Biolex will retain its headquarters in Pittsboro, North Carolina, and Epicyte's facilities in San Diego will be closed. Jan Turek will continue as CEO of Biolex and key members of Epicyte management will serve as consultants to Biolex to assist with the transition.