Mesa Labs picks up Gyros in $180m bio QC deal

Swedish immunoassay and peptide synthesis firm Gyros Protein Technologies has been acquired by Mesa Laboratories in a deal worth $180 million (€163 million).

Colorado-based quality control instruments and consumables firm Mesa Laboratories says it is increasing its presence in the discovery, development and manufacturing of biotherapeutics through the acquisition, adding Gyros’ immunoassay platform.

“We completed a business combination (the “GPT Acquisition”) whereby we acquired the common stock of Gyros Protein Technologies Holding AB (“GPT”), a company whose business provides Immunoassay and Peptide Synthesis solutions that accelerate the discovery, development and manufacturing of biotherapeutics,” Mesa states in a recent SEC filing.

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“The acquisition deepens our commitment to biopharmaceutical quality control and is the core of our new division, or segment, Biopharmaceutical Development.”

Gyrolab’s immunoassay solution is, according to Mesa CEO Gary Owens, “a proven, microfluidic driven platform that increases repeatability and throughput while minimizing sample size and manual handling.”

“[Gyros] also provides a leading peptide synthesis platform delivering the highest quality peptides in particular, for the longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies.”

This is the latest acquisition by Mesa. In November 2018, the firm acquired the continuous monitoring business of Point Six Wireless, incorporating its wireless sensors into its cold chain monitoring division. The firm also recently bought IBP, a dialysis calibration company it says enhances its DialyGuard product line.

For the firm’s second quarter FY 2020, ending September 30, revenues stood at $25.5 million, up 3% on the same period last year. Operating income increased 303% to $4.6 million and net income increased. Operating and net income for the second quarter in the prior year were impacted by an unusual item consisting of a $3,300,000 expense relating to an estimate of potential loss associated with a TCPA lawsuit.