Gemini Bioproducts, LLC Acquires Selected Fetal Bovine Serum (FBS) Product Rights and Inventory from Bio-Techne

Rhea-AI Summary

GeminiBio has acquired selected fetal bovine serum (FBS) product rights and inventory from Bio-Techne (NASDAQ: TECH). The acquisition includes manufacturing and global sales rights for Bio-Techne's R&D Systems FBS product brands: Optima, Premium Select, and Premium. Following Bio-Techne's decision to discontinue their FBS products, GeminiBio will ensure continuous product availability starting December 3, 2024. GeminiBio operates two cGMP manufacturing facilities in West Sacramento, CA, dedicated to animal origin and animal origin-free product manufacturing, serving various life science and biotech customers.

Positive

• Acquisition expands GeminiBio's market position and product portfolio
• Ensures continuity of established FBS product lines
• Leverages existing cGMP manufacturing capabilities
• Strengthens supply chain security

Negative

• Bio-Techne discontinuing its FBS product line indicates potential market challenges

WEST SACRAMENTO, Calif., Nov. 25, 2024 /PRNewswire/ -- Gemini Bioproducts, LLC ("GeminiBio"), a leading supplier of cell culture reagents and process liquids, and a portfolio company of BelHealth Investment Partners, LLC ("BelHealth"), a Florida-based healthcare private equity firm, today announced the acquisition of selected fetal bovine serum (FBS) product rights and inventory from Bio-Techne (NASDAQ: TECH).

GeminiBio has a 39-year history of supporting FBS customers. With this agreement, GeminiBio builds on these capabilities, by securing the manufacturing and global sales rights for Bio-Techne's R&D Systems fetal bovine serum (FBS) product brands, Optima, Premium Select, and Premium. Following Bio-Techne's decision to discontinue their FBS products, GeminiBio worked closely with the company to create a seamless transition plan, ensuring continuous access to these high-quality FBS products for existing customers.

"While Bio-Techne decided to discontinue the FBS product line, we have worked diligently to ensure continuity of supply for our customers. We are pleased that these important cell culture products will remain available through GeminiBio," said Will Geist, President of Bio-Techne's Protein Science Segment. "We have significant experience with GeminiBio's cGMP manufacturing capabilities and level of quality, and believe they are well-positioned to support the ongoing availability of these FBS product brands to our customers." 

"We are fully committed to maintaining ongoing market access to these products," said Brian Parker, Chief Executive Officer of GeminiBio. "Customers can expect the same high-quality standards, reliable supply chain, product names, specifications, and part numbers. With the addition of the Optima, Premium Select, and Premium product brands, GeminiBio strengthens its market position, providing customers with expanded options and enhanced supply chain security."

The effective date for the transition of these products to GeminiBio is December 3, 2024. All orders or inquiries specific to Optima, Premium Select, and Premium FBS should be directed to info@geminibio.com on or after December 3, 2024.

Over the past two years, GeminiBio has expanded its cGMP manufacturing footprint with two separate facilities in West Sacramento, CA – one dedicated to animal origin (AO) product manufacturing, and the other focused on animal origin-free (AOF) product manufacturing. With these manufacturing capabilities, GeminiBio supports a diverse life science and biotech customer base, including early-stage researchers, as well as clinical and commercial stage biotechs.  "GeminiBio is excited to integrate these new product brands – and support the ongoing success of new customers" said Mr. Parker, "and importantly, this acquisition increases the company's size and scale, positioning us to better accomplish our mission of helping improve customer workflows, and ultimately, accelerate the development of life-enhancing biotherapeutics."

About BelHealth Investment Partners

BelHealth Investment Partners, based in Fort Lauderdale, Florida, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management, and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes will benefit from its extensive operating and private equity investment expertise. BelHealth is investing from its current $350 million fund. For more information, visit www.belhealth.com

About GeminiBio 

Founded in 1985, GeminiBio serves the global biotechnology industry, from basic research to commercial production, with a focus on helping customers accelerate the development of life-enhancing biotherapeutics by streamlining and improving their cell culture and process liquid manufacturing workflows. The company's products are organized into two core verticals – Cell Culture Solutions and Process Liquid Solutions. Located in West Sacramento, California, GeminiBio has 57,000 square feet of cGMP manufacturing space, segregated between animal origin-free and animal component manufacturing. GeminiBio is an ISO 13485:2016 certified, FDA-registered Class 1 Medical Device Manufacturer, aligned with 21 CFR Part 820. For more information, visit www.geminibio.com.    

Contact: 
GeminiBio: Kim Thompson, kthompson@geminibio.com  
GeminiBio: Brian Parker, bparker@geminibio.com 
BelHealth Investment Partners: Inder Tallur, itallur@belhealth.com

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SOURCE Gemini Bioproducts, LLC

FAQ

What FBS product brands did Bio-Techne (TECH) sell to GeminiBio?

Bio-Techne sold the manufacturing and global sales rights for three FBS product brands to GeminiBio: Optima, Premium Select, and Premium.

When will GeminiBio begin managing Bio-Techne's (TECH) FBS product lines?

GeminiBio will begin managing the FBS product lines effective December 3, 2024.

Why is Bio-Techne (TECH) selling its FBS product rights?

Bio-Techne made the decision to discontinue their FBS product line and worked with GeminiBio to ensure continuity of supply for existing customers.

How will this acquisition affect Bio-Techne's (TECH) existing FBS customers?

Existing customers will maintain access to the same products with identical quality standards, specifications, and part numbers through GeminiBio.