Biotech Instem expands with £1.5m acquisition
STAFFORDSHIRE company Instem Life Science Systems has bought healthcare data intelligence business BioWisdom.
The acquisition values Cambridge-based BioWisdom at up to £1.5m.
Stone-based Instem is a leading supplier of IT solutions to the early development healthcare market and has over 80 customers worldwide, including companies such as GlaxoSmithKline and AstraZeneca.
Instem listed on AIM in October last year, raising £9m and employs more than 100 people in six offices in the US, UK, and China.
Its study management solutions accelerate drug and chemical development by increasing productivity, automating processes and enhancing practices that lead to safer and more effective drugs.
Phil Reason, Instem’s chief executive added: “Following this acquisition, 16 of the top 20 global pharma companies will be our clients, as well as numerous academic and not for profit organisations.
“We will continue to actively pursue strategic acquisitions that will further develop the company’s range of products and increase our penetration across the early development healthcare market.”
Instem was advised by three Manchester firms, corporate finance house Rickitt Mitchell, accountants Baker Tilly and law firm Turner Parkinson.
Deal of the Month: Click through to see the front runners for our latest Deal of the Month Award.
