West-Atlantic Partners Closes Acquisition of PrecisionMed, Inc.
Industry: Healthcare
West-Atlantic Partners (“West-Atlantic”) announced today that it has acquired PrecisionMed, Inc. from its founders, John Flax, MD and Ronald Flax. PrecisionMed is the premier provider of human cerebrospinal fluid (CSF) for scientific research, and has the largest private collection of CSF for research in the world.
Solana Beach, CA (PRUnderground) January 12th, 2021
West-Atlantic Partners (“West-Atlantic”) announced today that it has acquired PrecisionMed, Inc. (“PrecisionMed”) from its founders, John Flax, MD and Ronald Flax. PrecisionMed is the premier provider of human cerebrospinal fluid (CSF) for scientific research, and has the largest private collection of CSF for research in the world.
John Flax, MD, CEO of PrecisionMed, said, “We are excited to partner with West-Atlantic to set the stage for the company’s next phase of growth. This transaction will help PrecisionMed continue to provide high-quality biomaterials in our core focus area of neuroscience, while continuing to expand our product offerings in oncology and other disease areas.”
PrecisionMed is focused on providing the highest quality human biological products for research and development use. The PrecisionMed regulatory-compliant and privacy-protected biorepository consists of human tissue, CSF, CSF Pellets, DNA/EDTA blood, PAXGene, serum, plasma, PBMCs and urine samples collected under PrecisionMed’s IRB-approved clinical protocols.
Eric Leach, Managing Partner of West-Atlantic, said, “We look forward to helping bring PrecisionMed to its next phase of growth by continuing to prioritize the customer experience and focus on neuroscience, while also expanding product offerings to new disease areas that will help enable today’s scientific researchers to continue developing new and effective medicines and diagnostics.”
EVOLUTION Life Science Partners acted as financial advisor to PrecisionMed and Solomon Ward Seidenwurm & Smith, LLP acted as legal advisor. Goodwin Procter acted as legal advisor to West-Atlantic.
About PrecisionMed, Inc.
PrecisionMed is focused on providing the highest quality human biological products for research and development use. The PrecisionMed regulatory-compliant and privacy-protected biorepository consists of human tissue, Cerebrospinal fluid (CSF), CSF Pellets, DNA/EDTA blood, PAXGene, serum, plasma, PBMCs and urine samples collected under PrecisionMed’s IRB-approved clinical protocols. PrecisionMed has the largest private collection of CSF for research in the world.
