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Medix Biochemica Acquires US Firms EastCoast Bio, Biostride

NEW YORK ─ Biotech firm Medix Biochemica said Friday that it has acquired EastCoast Bio (ECB), a provider of antigens, antibodies, and blocking buffers for the in vitro diagnostic manufacturing industry, and Biostride, a developer and maker of antibodies and antigens for the IVD industry for drugs of abuse and hormone testing.

Financial and other terms of the acquisitions were not disclosed.

Espoo, Finland-based Medix Biochemica said the acquisition of ECB broadens its antibody and antigen offering in several diagnostic areas, including drugs of abuse, infectious disease, and veterinary testing. The company said the addition of North Berwick, Maine-based ECB further strengthens its commercial presence in North America, and ECB will benefit from Medix Biochemica’s strong local commercial presence in Europe and China.

As a result of the transaction, the organization and operations of ECB will be merged with Medix Biochemica’s immunodiagnostic reagents business unit. ECB’s founder and CFO Clark McDermith and President Pamela Williams will continue with Medix Biochemica’s immunodiagnostic reagents business unit in key roles.

Medix Biochemica CEO Steve Ferguson said in a statement that the acquisition of ECB demonstrates his firm's "strategy to consolidate the IVD supply chain and enhance supply chain visibility" for its customers.

He said that ECB further strengthens its presence in the "strategically important US market" and builds on its recent acquisition of Maryland Heights, Missouri-based Lee Biosolutions, which manufactures proteins, enzymes, antigens, and biologicals for use as quality controls and calibrators in the IVD market.

Separately, Medix Biochemica said that it has acquired Biostride to expand its portfolio of key raw materials for the IVD industry, adding drugs of abuse antibodies and antigens.

As a result of the transaction, the operations of Redwood City, California-based Biostride will be merged with Medix Biochemica’s immunodiagnostic reagents business unit. Biostride’s cofounder, Laura Colin, and president, Todd Corneillie, will continue as advisors to Medix Biochemica.