Los Angeles, CA (September 10, 2015) – StoneCalibre, LLC is pleased to announce that one of its affiliates, Edge BioSystems, Inc., has acquired the Ion Chromatography Business from Transgenomic, Inc. (NASDAQ: TBIO). The Company, which will be renamed Concise Separations, is based in San Jose, CA, and is responsible for researching, developing, manufacturing, and marketing high quality bulk resins and high performance liquid chromatography (“HPLC”) columns with applications across diverse fields such as pharmaceuticals, foods, life sciences, environmental, and forensics.
Ion chromatography (“IC”) is a chemical analysis technique that separates and analyzes different substances according to their affinities for chemically stable, highly reactive, synthetic ion exchangers. Transgenomic’s IC product line includes a wide range of specialty ion chromatography columns that are designed to run on a variety of HPLC platforms.
“We have been impressed by the vision, dedication and expertise of the employee base of the Ion Chromatography Business and look forward to partnering with them in the next phase of the Company’s development,” said Brian Wall, Founder and Chief Executive Officer of StoneCalibre. “As a division of EdgeBio, we intend to work with the Company by increasing investments in R&D, sales and marketing and ultimately helping them unlock their full potential.”
“As we assessed our strategic alternatives for the Ion Chromatography Business, StoneCalibre’s history of executing carve-out transactions and their experience in the life sciences industry made them a natural buyer for the business,” said Paul Kinnon, Chief Executive Officer of Transgenomic. “We are pleased with the transaction and believe StoneCalibre will provide a great home for the business and its employees going forward.”
Headquartered in Los Angeles, CA, StoneCalibre is a privately funded investment firm specializing in the acquisition of lower middle market companies. Founded by Brian Wall in late 2012, StoneCalibre is focused on making investments in both special situations and quality long-term capital investment opportunities. For more information please visit our website at www.stonecalibre.com.
Transgenomic, Inc. is a global biotechnology company advancing personalized medicine in cardiology, oncology, and inherited diseases through advanced diagnostic technologies, such as its revolutionary ICE COLD-PCR™ and its unique genetic tests provided through its Patient Testing business. The company also provides specialized clinical and research services to biopharmaceutical companies developing targeted therapies and sells equipment, reagents and other consumables for applications in molecular testing and cytogenetics. Transgenomic’s diagnostic technologies are designed to improve medical diagnoses and patient outcomes. For more information please visit www.transgenomic.com.