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Vector Laboratories has completed a $124 million cash buyout backed by Thompson Street Capital Partners and will begin an acquisition strategy to expand protein detection capabilities.
Vector Laboratories, a US-based supplier of labeling and detection reagents for biomedical research, has closed a $124 million cash buyout to accelerate its expansion into protein detection, the company announced on Sept. 7, 2021. The buyout was backed by private equity firm Thompson Street Capital Partners.
With the new funding, Vector Laboratories will initiate acquisitions and accelerate the commercialization of labeling and detection technologies for immunohistochemistry, immunofluorescence, glycobiology, and bioconjugation. The buyout gives the company the flexibility of a well-funded startup combined with a product portfolio that has already been market-tested. The buyout also gives the company resources for research by academic, industrial, and clinical researchers globally.
In addition to the closeout, Vector Laboratories launched VectaMount Express, a novel mounting medium for immunohistochemistry applications designed to improve laboratory productivity and reduce chemical solvent waste. The mounting formulation enables specimens to be directly mounted following staining with no need for lengthy dehydration or clearing washes. This benefit saves time while also retaining image quality, according to a company press release. VectaMount Express is compatible with horseradish peroxidase and alkaline phosphatase enzyme substrates. It is also compatible with commonly used counterstains, which preserves the intensity, localization, and clarity of staining in the specimen.
Lisa V. Sellers, Vector Laboratories’ former chief operating officer, has been appointed CEO. She previously served as vice-president of marketing at 10x Genomics and has held leadership roles overseeing the global reagent and instrumentation businesses for Applied Biosystems, Life Technologies, and Thermo Fisher Scientific.
"For over 40 years, Vector Laboratories' products have been trusted by disease and therapeutic researchers to accelerate their lab processes and improve productivity. Now, as a newly private company, we are able to nimbly innovate to rapidly take advantage of the unparalleled growth we're seeing across the life sciences sector," said Sellers in the press release. "This wouldn't have been possible without the financial and strategic support of Thompson Street Capital Partners, who share our vision for an agile, forward-thinking company that can help drive biological discovery to new heights and support the thriving biotech and pharmaceutical industries."
"Our mission is to drive innovation to accelerate lab processes and improve productivity for our customers," said Pamela James, senior director, R&D and Operations, Vector Laboratories, in the press release. "Mounting is a critical step to protect and preserve biological specimens and optimize imaging. VectaMount Express will considerably shorten this time-consuming process, reducing both costs and waste."
Source: Vector Laboratories