Axol Bioscience, Censo Biotechnologies Sign Merger Agreement
Provider of iPSC-derived cells, media, and characterization services, Axol Bioscience, has signed a merger agreement with Censo Biotechnologies, a cell biology CRO.
Provider of induced pluripotent stem cell (iPSC)-derived cells, media, and characterization services, Axol Bioscience, has signed a merger agreement with Censo Biotechnologies, a cell biology contract research organization.
According to a March 17, 2021 press release, the newly merged entity will provide product and service solutions in the iPSC-based neurosciences, immune cell, and cardiac modeling for drug discovery and screening markets. Additionally, the merged company will offer customers validated ready-to-use cell lines and a suite of services incorporating expertise, functional data, and customization capabilities.
As per the terms of the merger agreement, the CEO of Axol Bioscience, Liam Taylor, and the senior leadership team of Axol will take over the management of the combined company. The intention will be for Censo Biotechnologies to be migrated into the Axol Bioscience brand. Tom Stratfor, Censo’s interim CEO, is being appointed as non-executive director of the combined board, on behalf of Par Equity.
“Axol has experienced a rapid increase in demand for their iPSC-based products and services over the last three years. Merging with Censo immediately and significantly grows our scientific team and breadth of expertise,” said Taylor in the press release. “That [growth], and the addition of two sites for iPSC-derived cell line manufacturing and custom service work, will increase our production capacity and future-proof our organization to ensure demand can continue to be met with the short lead times and quality that our customers depend on.”
“Censo’s strength is our scientific team, as trusted partners in designing, executing, and managing custom project work. The combined entity will now be able to leverage Axol’s strength in iPSC-derived cells as well as complementary services such as electrophysiology to further our ability and efficiency to serve customers,” Stratford added in the press release. “We bring to bear capabilities, bandwidth, and expertise to scale the manufacturing of those tools in a way that benefits both customer bases and the wider market.”
Source: Axol Bioscience
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