BAC is a leader in the discovery, development and manufacture of affinity ligands and affinity purification products. The acquisition expands Life’s capabilities and product offerings in the growing market of biopharmaceutical research and manufacturing. Terms of the transaction are not disclosed.
Unilever Ventures invested in the business in 2002, after spinning the technology out from the Unilever Vlaardingen R&D facility in the Netherlands. In 2005 BAC completed a Series A Investment round led by Unilever Ventures and FF&P Private Equity. Since then BAC has developed its CaptureSelect® technology platform. This now comprises purification and affinity separation products used for the discovery, preclinical and clinical manufacture of therapeutic proteins, including antibodies and antibody fragments. BAC’s products enable a reduced time to market, increased purity and yield and an overall lower cost of goods for biopharmaceutical drug development.
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"Our acquisition of BAC BV positions Life Technologies as a leading provider of end-to-end solutions that are widely utilized in the bioprocess workflow," said Tony Hunt, head of BioProduction at Life Technologies. "Combining BAC’s current portfolio and pipeline with our pre-existing portfolio expands Life’s product offering and enables us to compete more fully across the protein purification market. We intend to immediately integrate the portfolios and leverage the Life commercial platform to drive accelerated growth in this market."
Andrew Lane, who represented Unilever Ventures on the board of BAC said "We want to congratulate CEO Laurens Sierkstra and the entire BAC team for what they have achieved. We are delighted to have invested in such a fantastic company and we wish them every success in the future".
Dan Walker, investment director of FF&P Private Equity and board director of BAC commented "With their commitment and innovation, Laurens and his team have done a great job of creating value in the BAC business. With the support of Life Technologies we think that the business will continue to thrive and grow".
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