Acquisition of BioServe Biotechnologies India Pvt. Ltd.
26 April 2018
REPROCELL announces that it has acquired all the shares of BioServe Biotechnologies India Pvt. Ltd., (Hyderabad, India hereinafter referred to as “BioServe India”) from Cancer Genetics Inc. (USA). Bioserve India now becomes a subsidiary of REPROCELL.
The size of the global iPS cell market has grown rapidly. Historically, Japan, the United States, and Europe have been the major markets, but recently China and India have emerged as growing markets. India is the second largest country in the world, with a population of 1.2 billion, and is projected to be the most populous country in the world by 2022. In addition, the economic growth in India is remarkable, and India has become a major economic power in Asia. Furthermore, it is projected that the Indian market will continue to expand in the future. Our company is currently expanding our business in Japan, the United States and Europe. With the acquisition of BioServe India, REPROCELL can expand our business profile in India, which is predicted to be a growth market.
In addition to a suite of DNA-based services, BioServe India offers NGS service which expands REPROCELL’s portfolio of service offerings. This NGS service provides synergy with our iPS cells technology and our innovative human tissue drug discovery services. For example, we can screen potential donors for a specific genetic variation and create the disease model iPS cells which have the gene variation specified for an objective disease. In our human biorepository business, we now have the capability to provide not just the specimen, but also whole genome sequencing data for the tissue samples. These offerings make our services more attractive for scientists interested in a particular gene.
By this acquisition, REPROCELL will expand new global development in India, provide more valuable, highly innovative drug discovery support service, and continue to accelerate our business.