Sepragen to acquire assets of Cytobiologics

Sepragen Corp, a US provider of patented technology and equipment for purification needs in the biotechnology and nutraceutical industries, has announced the signing of a letter of intent to acquire substantially all of the assets of Cytobiologics (a development-stage company).

The assets include laboratory equipment and intellectual property related to certain rapid assays and a high density bioreactor, which complements Sepragen's existing high-density bioreactor currently in "alpha development." Financial terms were not disclosed.

Sepragen's chief executive and founder, Vinit Saxena, remarked: "the addition of Cytobiologics' capability will provide us with facilities, talent and intellectual property to pursue the development of an integrated bio-manufacturing system. This will allow us to move up the value chain and be more of a full solution provider to our customers. The acquisition is subject to concluding a definitive agreement and to securing board approvals."