Medix Biochemica Acquires Lee Biosolutions to Strengthen IVD Biomaterials Portfolio and Expand U.S. Market Presence

On November 28, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Medix Biochemica announced the acquisition of Lee Biosolutions, a supplier of high-quality biological materials. No financial terms of the acquisition were disclosed.

This acquisition expands Medix Biochemica’s portfolio of biological reagents and provides a robust platform to further its growth in the U.S. market. Upon joining Medix Biochemica, Lee Biosolutions will serve as the group’s dedicated center for supplying biological materials to the in vitro diagnostics industry.

It is reported that following the completion of this acquisition, Burton Lee, CEO and Chairman of Lee Biosolutions, will step down from the company’s day-to-day operations and serve as a senior advisor and shareholder at Medix Biochemica. Matthew Lee, the company’s President and Chief Operating Officer, will continue to lead its operational activities.

Lee Biosolutions, established in 1975 and headquartered in St. Louis, United States, is a biotechnology company. The company specializes in the production and manufacturing of high-quality proteins, enzymes, antigens, and biological products, providing advanced biological materials for the in vitro diagnostics (IVD) industry. Lee Biosolutions is renowned for its exceptional protein purification capabilities and superior raw material sourcing expertise, and has established partnerships with major IVD suppliers, pharmaceutical companies, medical device manufacturers, research institutions, and forensic laboratories.

In vitro diagnostics (IVD) is a technology that obtains clinical diagnostic information by testing samples such as blood, body fluids, and tissues outside the human body, thereby assessing diseases or physiological functions. IVD enables disease prevention and early screening simply through the analysis and testing of samples. Furthermore, the use of IVD devices, particularly various wearable devices, allows for the anytime, anywhere monitoring of blood glucose, blood pressure, heart rate, and other parameters, facilitating effective surveillance and management of chronic diseases. For cancer patients undergoing surgery or chemotherapy, physicians can leverage IVD technologies to regularly monitor tumor markers, predict metastasis, and guide medication regimens.

Medix Biochemica, founded in 1985 and headquartered in Espoo, Finland, is a leading biotechnology company. The company is dedicated to providing high-quality diagnostic raw materials and rapid test technologies to the global diagnostics market. Medix Biochemica’s Actim rapid test technology is commonly used in clinical diagnostics, such as pregnancy monitoring, assessment of preterm birth risk, detection of acute pancreatitis, and other acute conditions. The company’s product portfolio includes monoclonal antibodies and antigens, which have significant applications in the fields of bone metabolism, cardiovascular health, diabetes, metabolism, infectious diseases, and oncology.

Ann-Christine Sundell, Chair of the Board of Medix Biochemica, stated, “We are delighted to partner with Lee Biosolutions, a company that has earned a strong reputation and achieved impressive financial results as a high-quality supplier of biological materials for the in vitro diagnostics industry. The complementary product portfolios of Lee Biosolutions and Medix Biochemica will enable us to deliver superior diagnostic solutions to customers worldwide.”

(Compiled by Xu Xiaoxue)