Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that its portfolio company BioIVT has acquired Medford, Massachusetts-based Ascendance Biotechnology (Ascendance), a provider of biospecimens and related services. Terms of the transaction were not disclosed.
In 2015, Hepregen Corporation and the ESI BIO products division of BioTime Inc. merged to form Ascendance Biotechnology (www.ascendancebio.com). The Company provides unique and proprietary bioengineered micro-liver platforms for use in environmental testing, preventive care, and product development in the pharmaceutical and biopharmaceutical, diagnostic, cosmetics and chemical industries. The acquisition adds Hepergen’s HepatoPac®, HepatoMune™ and HepatoStem™ liver cell and stem cell product lines to the BioIVT drug safety testing and toxicology portfolios.
The addition of Ascendance brings greater depth to the TSCP biotechnology platform, allowing a world-class product development team to create new applications for existing products while bringing a suite of new proprietary products aboard to help BioIVT better serve its customers.