Protea Biosciences to Acquire vivoPharm

Protea Biosciences Group Inc. (OTCQB:PRGB) announced that it has entered into an agreement to purchase vivoPharm Pty Ltd., which, among other things, provides pharmacology, toxicology and bioanalytical research services.

As quoted in the press release:

With facilities in Melbourne, Australia and Hershey, Pennsylvania, along with a sales office in Munich, Germany, upon completion of the acquisition vivoPharm will operate as a business unit of Protea.

Stephen Turner, chairman and CEO of Protea, commented:

The combined company will offer a unique, proprietary suite of services and bioanalytic technologies for the biotechnology and pharmaceutical industries. With the combination of our two companies, we are seamlessly integrating revolutionary molecular information technologies with world class oncology models and in vivo testing capabilities, to create new, unmatched and superior services for the preclinical pharmaceutical market.

Meanwhile, Dr. Ralf Brandt, founder and CEO of vivoPharm, said:

Joining forces with Protea provides a fantastic opportunity to build vivoPharm’s business, and provides a major point of differentiation from other preclinical research services. The opportunities to apply Protea’s mass spectrometry imaging workflows directly to in vivo animal studies represent a potential game-changer for the overall pharmaceutical and biotech R&D space.

Click here to read the full Protea Biosciences Group Inc. (OTCQB:PRGB) press release.