The Binding Site Acquired by Investment Group

Binding Site (Birmingham, UK), a privately owned researcher, developer, manufacturer, and marketer of specialist medical diagnostic products, was acquired by Nordic Capital Limited (St. Helier, Jersey BCD), a private equity investment fund specializing in acquisitions in Nordic countries, currently investing Fund VII. The value of the transaction was not disclosed. The current management and employees of Binding Site will remain with the company.

With expertise in antibody specificity technology, Binding Site gives clinicians and laboratory staff tools to improve diagnosis and the management of patients across a range of Multiple Myeloma and other B-Cell dyscrasias, and Primary Immunodeficiency (PID).

Following the acquisition, Binding Site will continue to build on its position as a leading supplier of in vitro diagnostic (IVD) assays for identifying and monitoring B-Cell dyscrasias and PID. This includes increasing market penetration of the Freelite and Hevylite assays across its core markets and developing agreements with leading distributors in fast growing regions. The Company is currently developing a third assay, Combylite, which studies suggest may have applications in nonmonoclonal diseases, including chronic kidney disease and liver disease. It will also continue to invest in new assays for use on its SPAPLUS analyzer, which continues to grow its presence in laboratories worldwide.

Jo Bradwell, chairman and founder of Binding Site, who will retain a small share of the company, and remain on the board, said, "With the help of a highly talented group of people here at Binding Site, as well as with our extensive links throughout the global medical community, we have built an excellent business. We have worked very hard to be the leaders in our chosen field, and in Nordic Capital, I believe, we have found a very supportive partner. I am highly confident that the Company will continue to develop and grow for long into the future."

Kristoffer Melinder, managing partner NC Advisory AB, advisor to the Nordic Capital, said, "Nordic Capital has followed the development of Binding Site for some time, and has been impressed by the performance of the Company and the strength of its product portfolio. With the strategic and financial support of Nordic Capital, Binding Site can further strengthen its position as the world's leading supplier of IVD assays for identifying and monitoring B-Cell dyscrasias and PID."

Related Links:
The Binding Site
Nordic Capital