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Detroit-Based Asterand Buys Memphis-Based Biobank

Wednesday, August 12, 2015   (0 Comments)
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TechTown company will expand tissue offerings to researchers

From Crain's Detroit Business
By Tom Henderson

Detroit-based Asterand Bioscience Inc. announced Tuesday that it has acquired AdeptBio LLC, a Memphis-based biobank that specializes in procuring human tissue specimens.

“We are delighted to have AdeptBio join our organization,” said Peter Ferrigno, Asterand’s chief commercial officer, in a news release. “Together, we will strengthen our partnership with the pharmaceutical and diagnostic community.”

“The development of new targeted therapies and companion diagnostics relies on availability of tissues, and increasingly biofluids, linked to deep clinical data,” said Lee Schwartzberg, AdeptBio’s founder. “Joining AdeptBio’s network with Asterand Bioscience’s network will strengthen their ability to partner and serve the pharmaceutical and diagnostic community.”

AdeptBio’s supply network will be added to Asterand Bioscience’s existing procurement network of more than 80 tissue-donor institutions.

Terms of the deal were not announced.

Asterand Bioscience, which is based in TechTown, was formed in 2006 through the merger of Asterand, which was founded in 2000 as a human tissue biorepository, and Pharmagene, a U.K-based drug discovery company.

TechTown Detroit is a nonprofit business accelerator and incubator within the Woodward Technology Corridor SmartZone.

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