Acquisition drives synergy within existing VION platform and creates greater opportunity to serve diagnostic market
VION Biosciences, a life science platform company focused on specialty materials in the life science research, diagnostic, and drug discovery spaces, announces its second acquisition this August with the acquisition of Ansh Labs, a biotechnology company that focuses on the development, production, and distribution of high-quality immunoassay kits and reagents for research and clinical diagnostics. Based out of Houston, TX, Ansh positions VION to better serve the diagnostic market, with its products enabling customers to conduct important research in various clinical diagnostic areas. This is the third investment under VION Biosciences, Iron Path Capital’s roll-up platform in the life science sector led by life science industry veteran, Mark Thornton.
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VION’s acquiring of Ansh integrates contract development and custom manufacturing services of novel immunoassays and specialty reagents into its portfolio for diagnostics and biotech research and discovery, a new offering for VION that complements its existing portfolio of specialty products and services. Specifically, Ansh’s monoclonal antibody development process enables them to produce and screen more antibodies to optimize pairs for a better immunoassay. This expertise allows Ansh to develop assays with a high degree of specificity for the detection of clinically significant biomarkers as well as the acceleration of drug discovery processes. Ansh products can be found in academic research, clinical laboratories, and pharmaceutical development, particularly in studies related to fertility, pregnancy, bone metabolism, obesity, and cancer, putting them at the center of patient need in critical research areas.
Mark Thornton, CEO of VION Biosciences, stated, “The momentum our team has this year to expand into underserved markets has been tremendous, and it is proof that the diagnostic market is growing and requires the right innovations needed to move science forward. Ansh’s commitment to innovation and quality is a natural fit for VION, and our acquisition of Ansh Labs coupled with our two previous acquisitions collectively give VION the combined resources, capabilities, core competencies, and of course the talents of all VION’s employees to meet the goals of our customers now and into the future.”
The Ansh acquisition alongside the Echelon Biosciences acquisition earlier this month as well as 2023’s Aldon acquisition brings the company's employee roster to nearly 100 employees. The deal also adds significant capabilities that include GMP manufacturing for IVD and an ISO 13485 certification to its growing footprint, bringing the total site presence to three sites across North America with a global reach to Europe and Asia.
McDermott, Will, & Emory acted as VION’s legal advisor and Kroll served as financial advisor. Persient LLC served as financial advisor to Ansh Labs in its sale.
About Iron Path Capital
Founded in 2021 by seasoned investors and operating executives Rob Reistetter and Scott Mraz, Iron Path Capital is a private equity firm that specializes in building great businesses in the healthcare and specialty industrials sectors. With offices in Nashville, TN, and Charlottesville, VA, Iron Path Capital supports management teams with strategic leadership, operational expertise and flexible capital to achieve visionary growth plans through defined, defensible execution. www.ironpathcapital.com
About VION Biosciences
VION Biosciences is positioned to be a best-in-class life science company delivering market-leading manufacturing and critical specialty chemicals and reagents alongside value-added services to enable scientific discovery, clinical testing, therapeutic development, and innovative solutions across a wide platform of key applications in the biochemical and life science sectors, from research to commercialization.
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Contacts
John Voycik
Vice President, Business Development
john.voycik@vionbiosciences.com
