We are pleased to have advised biotechnology specialist, Cellesce Ltd, on its sale to San Jose-based life science solutions provider Molecular Devices.
Based in Cardiff, Cellesce is a specialist in contract development and manufacturing of large scale patient derived organoids (PDOs) for diverse applications, including drug screening.
By combining Cellesce’s expertise in producing industrial-scale PDOs with Molecular Devices’ market-leading end-to-end solutions for automated organoid screening, the enlarged group will enable customers to accomplish advanced 3D biological research with a commercial offering that’s never been available before from one provider.
Led by Director Bilal Hasan, our team acted as lead sell-side advisers. This involved market mapping, leading all negotiations with the acquirer and supporting the business through the diligence process.
Bilal Hasan, Director at FRP Corporate Finance, said: “Cellesce has developed cutting edge technology that is likely to have a seismic impact on drug discovery and next-generation therapeutics.
“The commercial and cultural fit between Molecular Devices and Cellesce was clear from the start, and we look forward to following the businesses’ progress in the years to come.”
Vicky Marsh-Durban, CEO of Cellesce, added: “Molecular Devices has the capability, reputation, reach, and resources to ensure that the Cellesce technology can be further developed, and used to its full potential. We’re excited to bring our domain expertise and intellectual property to Molecular Devices, together maximising impact for customers in revolutionising drug discovery and unlocking the full potential of human-relevant 3D biology research. The team at FRP have been a great source of knowledge and support to the Cellesce management team throughout the process. They have been highly professional and efficient, which has paved the way for a smooth transaction and a positive outcome”.
John Allbrook, Chairman and shareholder at Cellesce said: “FRP came highly recommended and our experience of working with them has borne out all that we had heard about them. They were a valuable part of the process, rolled their sleeves up and expertly guided is through the transaction.”
Selling a business
Cellesce has developed cutting edge technology that is likely to have a seismic impact on drug discovery and next-generation therapeutics.Bilal Hasan Corporate Finance