Immunotherapy company Ilya Pharma has acquired Nordic Bioanalysis in a move to strengthen its supply chain and help develop its pipeline of skin and mucosal immunotherapy drug candidates.
Nordic Bioanalysis was founded in 2019 and serves as an international expert in bioanalytical development and validation for pharmaceuticals, classic small molecules and biologics including antibodies as well as Advanced Therapy Medicinal Products (ATMPs).
The acquisition has been ongoing since 2021 with final parts of the transaction being completed in April 2022.
Following the acquisition, Nordic Bioanalysis will continue to run at arm’s length as an independent commercial entity. The aim is to expand its customer base which ranges from big pharma to start up entering the regulated product development and validation phases in pharmaceuticals, including ATMPs, and medical devices, as well as other live bacterial products (LBPs).
Official comments
Evelina Vågesjö, CEO Ilya Pharma said: “We have worked closely with the Nordic Bioanalysis team over the last 5 years setting up and validating product specific bioassays for Ilya’s cell banks, ILP100-Topical and ILP-Oral products and also different non-clinical and clinical samples. The team is extremely agile, flexible, cost efficient and dedicated to the success of their customers, lead times are extremely competitive. Whilst we saw this opportunity in light of our own rapidly progressing product development of the ILP100 drug candidates now in late-stage development, we also want to support the ATMP field in general. These are exciting times with all the new modalities in cell- and gene therapy, microbial based therapeutics, LBP and more, where having a reliable and agile partner for development and validation of bioassays is one of the main keys to success in clinical proof of concept.”
Oskar Lund, CFO added: “Nordic Bioanalysis AB was highly profitable with a +50% RoE last year, now we have redirected those funds into growth of the company. This year, the objective is to double its revenue and size of the operational team. The growth strategy is supported by a hand-picked management and international Board of Directors working closely together pursuing new opportunities globally, starting with the European markets, whilst preserving and refining the agility and flexibility – traits that companies in the rapidly evolving biologics, ATMP, CGT and LPB pipeline rely on for their success to clinical validation and product development.”
