Corporate Announcements

PRESS RELEASE

Medix Biochemica has completed the acquisition of Lee Biosolutions, a leading provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry. The news about the acquisition was originally announced on 18 November 2019. The acquisition expands Medix Biochemica’s leading portfolio of bioreagents as well as provides Medix Biochemica with a strong platform for further growth in the US market. Following the transaction, Lee Biosolutions forms a Center of Excellence focused on biomaterials for the IVD industry within Medix Biochemica’s group structure. President and COO of Lee Biosolutions, Matthew Lee, heads its operations and reports to the CEO of Medix Biochemica. CEO and Chairman of the Board of Lee Biosolutions, Burton Lee, will continue as Senior Advisor over a transition period and has become a shareholder in Medix Biochemica as part of the transaction.

For more information:

Ann-Christine Sundell, Chairman of the Board of Medix Biochemica
Mobile: +358 40 536 7703
Email: ac.sundell@parnet.fi

Read more about Medix Biochemica and Lee Biosolutions:

www.medixbiochemica.com
www.leebio.com

PRESS RELEASE

Medix Biochemica expands to biomaterials for IVD industry through acquisition of Lee Biosolutions

• Medix Biochemica has signed a definitive agreement to acquire 100 per cent of the shares in Lee Biosolutions, a leading provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry
• The acquisition expands Medix Biochemica’s leading portfolio of bioreagents as well as provides Medix Biochemica with a strong platform for further growth in the US market
• Burton Lee, the CEO and Chairman of Lee Biosolutions, will step down from daily operations and become a Senior Advisor and shareholder in Medix Biochemica
• President and COO Matthew Lee of Lee Biosolutions will continue to head the operations of Lee Biosolutions
• As a result of the transaction, the complementary product portfolios of Medix Biochemica and Lee Biosolutions will be available from a comprehensive global sales network

Medix Biochemica has signed a definitive agreement to acquire 100 percent of the shares of Lee Biosolutions to broaden its portfolio of critical raw materials for the in vitro diagnostics (“IVD”) industry and strengthen its local presence in the US market. Following the transaction, Lee Biosolutions will become a Center of Excellence focused on biomaterials for the IVD industry within Medix Biochemica’s group structure. President and COO of Lee Biosolutions, Matthew Lee, will head its operations and report to the CEO of Medix Biochemica. CEO and Chairman of the Board of Lee Biosolutions, Burton Lee, will continue as Senior Advisor over a transition period and become a shareholder in Medix Biochemica as part of the transaction.

Founded in 1975, Lee Biosolutions is a manufacturer of high-quality proteins, enzymes, antigens and biologicals used for quality controls and calibrators in the IVD industry. The company is known for its outstanding capabilities in protein purification and operational excellence in raw materials sourcing. Lee Biosolutions’ customers include most of the largest global in vitro diagnostics manufacturers as well as a number of pharmaceutical and medical device companies, research institutions and forensic laboratories. The company is headquartered in St. Louis, Missouri.

“We are excited about the partnership with Lee Biosolutions, which has gained a premium reputation as a provider of high-quality biomaterials for the IVD industry and achieved strong financial results. The complementary product offerings and regional presences of Lee Biosolutions and Medix Biochemica will enable us to serve our global customer base even better in the future”, says Ann-Christine Sundell, Chairman of the Board of Medix Biochemica.

“Lee Biosolutions has, under the leadership and ownership of Burton Lee, built an impressive product portfolio, strong customer base as well as committed and knowledgeable organization over the past decades. This partnership is a great first step in our pursuit to become the #1 choice for the IVD industry in critical raw materials“, says Teemu Alahuhta, Vice Chairman of the Board of Medix Biochemica and partner of DevCo Partners.

“I am very excited about the acquisition and working with an incredible group of Medix Biochemica and DevCo Partners. Together we have all the capabilities to become a juggernaut in the IVD raw materials industry”, says Burton Lee, CEO and Chairman of Lee Biosolutions.

About Medix Biochemica

Medix Biochemica is a leading Finnish biotechnology company focusing on high quality diagnostic raw materials and rapid tests for global diagnostic markets.We develop, produce and market antibodies, antigens and antibody services for the in vitro diagnostics (IVD) industry and serve the largest multinational IVD companies. Our MedixMAB™ antibodies are in use in billions of diagnostic tests all around the world to ensure accurate diagnostic results. Medix Biochemica’s products are used in over60countries with 90% of our sales coming from global markets. The company is headquartered in Espoo, Finland with local offices in the USA and China.

For more information:

Ann-Christine Sundell, Chairman of the Board of Medix Biochemica
Mobile: +358 40 536 7703
Email: ac.sundell@parnet.fi 

Lee Biosolutions is proud to announce the purchase of Creative Laboratory Products, Inc, complete product line. CLP was an Indianapolis, Indiana-based producer of human and animal cholesterol concentrates, such as Low Density Lipoprotein (LDL), High Density Lipoprotein(HDL) and delipidized serum products and sold the product line to Lee Biosolutions, Inc, on March 14th, 2016.

We are very happy to have their manufacturing team headed by Jason Proksch join Lee Biosolutions . Lee Bio will be assisting them with their move to St. Louis, MO. Transfer of technology and equipment to Lee Biosolutions manufacturing facility will be taking place during the next couple of months as the team wraps up current production. Lee Biosolutions will be utilizing CLP protocols and test methods, ensuring customers won’t be affected during the transition. Lee Bio team is preparing to perform Installation Qualifications (IQ) and Operational Qualifications (OQ) on equipment and instrumentation that is used in the production and testing of these products.

Burton Lee, CEO of Lee Bio says, “Dr. Gary Proksch , founder of Creative Laboratory Products was the first person to recognize the future of the lipoprotein market 30 years ago and his technology in providing stable, high quality lipoproteins has enabled diagnostic manufacturers worldwide to produce hundreds of millions of cholesterol tests over the years that have saved lives and created the market as we know today."

Matt Lee, President and COO says, " The addition of Bovine HDL , Bovine LDL Cholesterol Concentrate, Human LDL and HDL, delipidized serum and related products strengthens and expands our core product line providing both significant growth and capabilities allowing us expand in key diagnostics markets."

The transition of manufacturing CLP products to Lee Biosolutions will ensure that customers will be provided with high quality and consistent long-term supply with increased capacity for decades to come. CLP and Lee Biosolutions have had a close relationship for over 30 years and Lee Biosolutions’ expertise with process development and purification of proteins derived from both animal and human sources makes this a perfect fit that will provide for a seamless transition for customers.

Lee Biosolutions is a global biotechnology leader specializing in custom and bulk manufacturing and preparation of high quality finished enzymes, related proteins and biologicals used in clinical diagnostic tests for pathologies such as cardiac disease, cancer, diabetes, urine analysis, obesity, inflammation, neurological, autoimmune diseases, immunological disorders and more The company is known internationally for developing some of the most successful formulations for research, diagnostic and therapeutic markets. Lee Biosolutions is certified to ISO 13485:2003 and ISO 9001:2008 standards.

You can learn more about the company, its products, services and career opportunities by visiting its website at http://www.leebio.com

Lee Biosolutions, a leader in the manufacture of finished enzymes and related proteins for the diagnostic and life science industry announces that it has achieved ISO 13485:2003 certification for the manufacture of biologics under clean room conditions for the medical industry. ISO 13485 is an international standard that certifies a company's quality management system for regulatory purposes and addresses the development, implementation and maintenance of a quality system that is intended for use by medical device manufacturers.

Lee Biosolutions achieved ISO 13485 following significant investment in a new expanded facility and putting together an incredible team that was committed to exceeding the requirements needed to meet compliance.  Our Regulatory Affairs Manager, Kevin Doss and Quality Assurance Manager, Jon Klein were instrumental in our success and continue to guide our team in making our organization a world class organization.

Burton Lee, CEO says " We have a responsibility to our clients and the industry to continue to invest in our processes and personnel for critical raw materials that  meet industry and regulatory requirements that reduce  risk, improves safety, while increasing quality and capabilities with continued improvements.   

Matt Lee, President and COO says " Our customers are increasingly calling on us to assist them in meeting the growing demands of the industry regulators in both US and in Europe.  We are now able to custom manufacture ISO 13485 certified critical raw materials which will benefit our customers who are developing new and innovative products for the medical industry.  ISO 13485 shows our ability to maintain an effective quality management system which benefits not only the client but the industry."

Lee Biosolutions is a producer of high purity finished enzymes and related proteins used by research institutions, IVD diagnostic manufacturers and the biotech healthcare industries worldwide. LeeBio is known for its expertise, leadership and support by clients because of its ability to closely partner with them in the development, purification, scale up and commercialization of innovative products. LeeBio has both ISO 13485:2003 and ISO 9001:2008 Certifications.