Touchstone Innovations plc announces that portfolio company Puridify has today been acquired by GE Healthcare. The terms of the transaction have not been disclosed.
Puridify, based in Stevenage, is developing a novel nanofiber-based platform purification technology for the biopharmaceutical industry. The company’s FibroSelect technology is complementary to the bead resins and chromatography membranes used today in downstream bioprocessing, promising faster mass transfer, scalability and ease of use. The platform offers productivity improvements in the process development (PD) phase and small-scale manufacturing for a wide variety of biopharmaceutical applications, including monoclonal antibodies (mAbs).
Puridify’s technology was originally developed at the world-leading Department of Biochemical Engineering at UCL and supported by investment from Touchstone Innovations, SR One and UCLB since 2014.
GE Healthcare will invest to bring Puridify’s platform to commercialisation, fully integrating it within the broad range of bioprocess purification products already available at GE. All 17 of Puridify’s employees will join GE Healthcare Life Sciences’ BioProcess business. The Puridify team will remain at their current location in Stevenage, UK, which will serve as a small research hub for BioProcess.
Commenting on the acquisition Inga Deakin, Principal at Touchstone Innovations and Investor Director at Puridify said:
“Puridify is a fantastic example of Touchstone backing a young entrepreneurial team to further develop technology that originated in UCL’s Department of Biochemical Engineering to a point where it has been able to attract the interest of a market leader like GE to help the company take the next step in commercialising its novel platform.”
Oliver Hardick, CEO of Puridify, said:
“Puridify has spent the last three years developing the industrial FibroSelect technology in close collaboration with leading biomanufacturers with promising results.
“We are excited to take this next step as part of GE Healthcare, with the full support and experience associated with one of the industry leaders in this field. This deal gives full recognition to the Puridify development team and to the strong potential of the FibroSelect technology platform.”