Vitro S.A. Announces Upcoming Launch of Disruptive Molecular Biology and Anatomic Pathology Diagnostic Platform Following Strategic Divestiture

Seville, Spain, February 4, 2022 /PRNewswire/ -- Vitro S.A., a privately held company headquartered in Seville, Spain (www.vitro.bio) Today announced the sale of Cytognos to Becton Dickinson and Company (BD). Cytognos is a company specializing in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for blood disorders. Employees of Cytognos joining BD as a result of the acquisition will continue to work in the Salamanca region of Spain. The terms of the transaction were not disclosed.

Vitro has been a long-term investor in Cytognos since 1996, and in 2018, it acquired a majority stake in Cytognos with the aim of fully integrating and commercializing flow cytometry testing reagents, hardware, and software. Following the majority equity investment by GED Capital in Vitro in June 2017, this additional investment marks the first of its kind for Vitro. Since then, Cytognos has become a full-platform player in the clinical flow cytometry testing market.

Vitro's CEO Javier Fernandez stated: "Completing this significant transaction with a globally leading in vitro diagnostics company underscores Vitro’s position as an advanced technology player in specialized fields, paving the way for further corporate and key technological achievements related to our molecular biology and anatomical pathology platforms."

Vitro has approximately 250 employees across its enterprises in Seville, Granada, Madrid, Valencia, and Lisbon, and will establish a new branch in Istanbul in February. Vitro excels in reagent, software, and hardware development, integrating these into proprietary full diagnostic platforms. With its own anatomical pathology and molecular biology reference laboratories, Vitro can validate and measure new reagents faster and more efficiently than its main competitors. Through this divestment, Vitro can focus resources on launching a brand-new, top-tier in vitro diagnostic platform in 2022. The company is creating independent departments to manage its existing reagent, hardware, and software diagnostic teams, which focus on molecular biology, anatomical pathology, and direct-to-consumer (D2C) women's health services.

Lazard served as the exclusive financial advisor to Vitro, and Garrigues served as the legal advisor to Vitro. KPMG provided financial due diligence support, and LEK provided commercial due diligence support.