SPT Life Sciences, a global group of innovative technology companies focused on supporting the life sciences industry to deliver more effective research, on 15 Sep 2020 announced the completion of the acquisition of LBD Life Sciences, a leading supplier of instrumentation to the drug discovery market in China.
SPT Life Sciences backed by technology-focused investment firm Battery Ventures, had previously held a minority stake in LBD Life Sciences. This latest deal sees the purchase of all remaining shares.
As a result of this acquisition SPT Life Sciences extends its commercial reach into the rapidly growing Chinese life sciences research market. LBD Life Sciences will join the family of companies including SPT Labtech Ltd and Quantifoil who together will be better placed to meet the rapidly evolving needs of the Chinese research community.
Patrick Bennett, Group CEO of SPT Labtech, said, "We are delighted to complete the deal and we are very excited to bring LBD into the group. This investment highlights SPT Life Sciences commitment to developing a global portfolio of companies with a range of specialisms that help life science professionals world-wide to achieve their research goals. For over 10 years the team at LBD have supported the growing life science research community in China and we believe that this investment will ensure they are able to do so going forward.”
Sean Xiao, Managing Director of LBD Life Sciences commented “As part of SPT Life Sciences we will remain deeply committed to solving Asia’s life science customers' toughest research problems by leveraging our expertise, and enabling access to cutting edge instrumentation. We can see many advantages of being part of the group and look forward to the future