VION Biosciences announced on August 29 its second transaction of the month with the acquisition of Texas-based Ansh Labs. Earlier in the month, VION acquired Echelon Biosciences, a Salt Lake City-based company that specializes in producing high-quality reagents and assays for the life sciences research community. The Ansh acquisition alongside the Echelon Biosciences acquisition, as well as the August 2023 acquisition of Aldon Corporation brings VION’s employee roster to nearly 100 employees.
Ansh Labs is a Texas-based company that focuses on the development, production and distribution of high-quality immunoassay kits and reagents for research and clinical diagnostics. The company’s tools include immunoassay kits, immunodiagnostic assays, reagents and custom biotechnology testing products, enabling life science researchers, physician-researchers, hospitals, commercial laboratories and public health agencies to offer an advancement in biomedical research.
VION Biosciences, backed by private equity firm Iron Path Capital, is a life science platform delivering manufacturing and mission-critical chemicals and specialty reagents alongside value-added services to enable scientific discovery, clinical testing, therapeutic development and innovative solutions across a wide platform of key applications in the biochemical and life science sectors, from research to commercialization.
The deal also adds significant capabilities to VION that include GMP manufacturing for IVD and an ISO 13485 certification to its growing footprint, bringing the total site presence to three sites across North America with a global reach to Europe and Asia.
McDermott, Will, & Emory acted as VION’s legal advisor for Ansh Labs acquisition and Kroll served as financial advisor. Persient LLC served as financial advisor to Ansh Labs in its sale. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction marks the 83rd Laboratories, MRI and Dialysis acquisition of 2024. Of those transactions, 55% (46 deals) have been announced in the diagnostics specialty.
