Bio firm expands sample storage expertise through acquisition
Biotech company, Biofortuna, has acquired Cheshire biological sample storage firm, Cryoniss, for an undisclosed sum.
Deeside-based Biofortuna specialises in developing and manufacturing diagnostic tests for a number of conditions, ranging from lung cancer to Covid. It is also a CDMO (contract development and manufacturing organisation).
The acquisition of Macclesifled company Cryoniss brings expertise and infrastructure in temperature-controlled biological sample storage, strengthening Biofortuna’s existing stability storage capability and accelerating the growth of its controlled environment storage offering.
Cryoniss, based on the Alderley Park life sciences campus and at The Heath Business and Technology Park in Runcorn, specialises in the provision of sample storage and bio-repository solutions at ultra-low and cryogenic conditions for long term storage of biological samples to the global life sciences sector, research institutions and governmental agencies.
Applications include academic research, therapeutic drug discovery and diagnostic test development.
Dr Nick Ash, Biofortuna CEO, said: “Cryoniss is a perfect fit with our existing controlled-environment storage and cell line services business.
“With customers increasingly looking for single site provision of sample storage and analytical services, Biofortuna is now perfectly positioned to deliver a fully integrated, end-to-end service.”
Sonia Houghton, CEO of Cryoniss, said: “The acquisition by Biofortuna presents a host of new opportunities.
“It will allow us to showcase our expert temperature-controlled services to a much wider audience across the life sciences and biotech sectors, and enable our customers to access our highly accredited services quickly and efficiently.”
Cryoniss received early stage equity funding from Maven Capital Partners and several high net worth investors.
Alex Clarkson, Alex Wilson and Krystel Eastman, of Manchester-based, Bamburgh Capital, advised Cryoniss and Maven Capital.
Karen de Meza, Portfolio Director at Maven Capital Partners, said: “We are proud that we were able to assist Cryoniss with the early stage of its growth journey.
“The acquisition by Biofortuna presents a symbiotic opportunity for the company in the next phase of its evolution. We wish Sonia and Nick every success for the future.
“Thanks also to Alex and his team at Bamburgh Capital for their support with this transaction.”
Alex Wilson, Associate Director at Bamburgh, said: “The Cryoniss team, led by Sonia and Phil, have done a great job in building the business and are now ready to accelerate their growth as part of a larger corporate, allowing them to offer a wider and deeper service to its clients.
“We were very pleased to work with the team at Maven, who have done a great job in supporting Cryoniss.”
Other advisers included law firm Ward Hadaway. The team included Melanie Yeomans and Matthew Campbell.
