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Celsis acquires In Vitro Technologies
September 2006
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CHICAGO—Celsis International plc, a Chicago-based life science products and services company, last month announced the acquisition of In Vitro Technologies, Inc. (IVT) for $30 million in cash and an earn-out consideration capped at $5 million. The acquisition of IVT adds a suite of products and ser­vices for the in vitro ADME toxicology market to the Celsis portfolio.
 
Baltimore-based IVT's product port­folio includes proprietary ADME-Tox products including fresh and cyropre­served cells and enzymes. An estimated 50 percent of drug candidates fail in clinical trials due to unanticipated phar­macokinetic and toxicology issues. The use of IVT's broad range of tools has resulted in the selection of optimum candidates for the clinical trial stage.
 
"With the acquisition of In Vitro Technologies, Inc., Celsis has expanded its business through an improved prod­uct and services portfolio and created clear cross-selling opportunities which we expect to deliver material growth in the coming years," says Jay LeCoque, CEO of Celsis International plc. "Celsis is well positioned to continue its track record of strong growth both organically and by acquisition."
 
The integration of IVT into Celsis should create value for customers of both companies, Celsis contends, through the combination of complementary products and services and through the expertise of the collective employee base of seasoned scientists and client support specialists.

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