Date: Nov 03, 2016 Author: Melissa Brown Source: bizjournals (
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Birmingham biotech company Vivo Biosciences has been acquired by Virginia-based LifeNet Health.
The organ transplant solutions company announced the acquisition Wednesday, saying Vivo's unique technology will add to LifeNet's growing emphasis on personalized medicine.
Founded in 2004 by cancer researcher Raj Singh, Vivo Biosciences created and patented its HuBiogel technology, which Singh likens to a glue used for holding cells together. The cells bounded by HuBiogel are developed into tumor models, which Vivo then uses to test drug efficacy and toxicity.
According to a release, LifeNet Health will fold the HuBiogel tech into their newly created Life Sciences division, which will focus on personalized medicine. Vivo's tumor models can help drive down costs for pharmaceutical companies testing new drugs.
"These advances will enable researchers to better predict which medicines will be effective in fighting diseases such as cancer, saving time in treatments for patients," said Rony Thomas, president and CEO of LifeNet Health. "We hope we can give physicians and drug companies better ways to develop, and predict the effectiveness of current drugs and drugs in the pipeline."
Vivo Biosciences regularly collaborates with UAB on cancer tumor research, and LifeNet says they have no plans to end that relationship. Singh will also stay on with LifeNet.
"LifeNet Health can now provide the strategic infrastructure, support and direction to bring our valued technology to the marketplace and to patients," Singh said in a release.
Based out of Virginia, LifeNet has facilities in North Carolina, Florida and Washington. It provides a range of transplant solutions like organ procurement and cellular therapies
