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Cardiff Bioanalytical Services acquired by LGC

Biotech company Cardiff Bioanalytical Services, originally founded at Cardiff Medicentre, has been acquired by LGC.

Cardiff Bioanalytical Services is a leading provider of External Quality Assessment schemes for clinical and forensic toxicology and therapeutic drug monitoring.

LGC is an international science-based company and market leader in analytical, forensic , biotechnology, diagnostic and product services and reference standards.

LGC operates in a variety of markets which underpin the safety, health and security of the public and the regulation of industry, for both public and private sector clients.

LGC Standards extends portfolio with Cardiff Bioanalytical Services acquisition.


Commentary

Dr Mark Bowman, Director of Innovation at Cardiff Medicentre said “The acquisition of Cardiff Bioanalytical Services by LGC provides further evidence of the benefits of forming and growing sustainable biotech and medtech companies at Cardiff Medicentre."

He added "This company has clearly demonstrated the value of its technology and expertise and this effort has now been rewarded through its purchase by LGC."

For all Cardiff Medicentre media enquiries, please contact:

Carina Phillips
T: 07815 058283
E:carinaphillips@ntlworld.com

Notes to editors

About Cardiff Medicentre

Cardiff Medicentre is a dedicated incubator for biotech and medtech startups. The facility is set in the grounds of the University of Wales Hospital and is a neighbour to Cardiff University’s School of Medicine.

Established in 1992, Cardiff Medicentre is a joint venture between Cardiff Council, Cardiff University, the Welsh Government and Cardiff & Vale University Health Board. It was the first incubator of its kind in the UK and now provides 32 units of high quality office and lab space accommodation ranging from 284 sq ft to 1,045 sq ft. Low-cost desk leasing facilities are also available to encourage entrepreneurs to enter the Cardiff Medicentre community while writing business plans and raising finance.

Tenants at Cardiff Medicentre benefit from specialist support in establishing and growing their businesses. Their aim, and the aim of the Cardiff Medicentre management team, is graduation – the process of tenant businesses outgrowing the incubation facilities and moving into their own follow-on space, or being acquired.

Examples of successful graduate companies

  • Q Chip Ltd (completed $6 million venture capital investment round in 2011)
  • Cardiff Bioanalytical Services Ltd (acquired by LGC Ltd in 2010)
  • Cardiff Research Consortium (acquired by Capita Group plc for £11.6 million in 2009)
  • BioDynamics Research Ltd (acquired by Quotient BioResearch Ltd in 2008)
  • TrichoTech Ltd (acquired by Concateno plc for £11.25 million in 2007)
  • OnExamination Ltd (acquired by BMJ Group in 2007)

Published on Thu, 4th Nov 2010

 
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