Rochdale headquartered Astorium, a company in the R&D Sample Stability and Biorepository Storage industry, has acquired the biorepository business of Flagship Biosciences in North Carolina as it strategically expands within the East Coast of the US.
Astoriom currently has facilities on the west coast of the United States and in the United Kingdom and Ireland.
Astoriom’s acquisition was inspired by the increasing demand by customers for a US East Coast facility and the company’s commitment to grow its global presence through an M&A strategy.
This new US location, based in Research Triangle Park in North Carolina, expands Astoriom’s resources and geographic footprint, providing it with greater biorepository services and capacity in North America.
Astorium said: “This state-of-the-art biorepository site will allow Astoriom to better serve its customers by delivering proximity, scalability, and expanded technological capability in a rapidly growing R&D hub, bringing it closer to the world-class life science and consumer products companies located in Research Triangle Park and beyond.
“Supported by Limerston Capital, a UK mid-market private equity investment firm, Astoriom remains focused on strategically expanding its capabilities across the US and Europe.
“The acquisition of Flagship Biosciences’ biorepository business builds on the momentum generated by the appointment of Lori A. Ball as the new Chief Executive Officer earlier this year, marking an exciting phase for global expansion and business growth.”
Ball said: “Astoriom’s leadership in providing high-quality R&D sample stability storage for regulatory compliance has driven expanded interest by our customers in storing and protecting their biorepository sample collections within our secured facilities around the world.
“The acquisition of Flagship Biosciences’ North Carolina biorepository business provides us a timely opportunity to meet the rising customer demand for biorepository storage by providing our customers with closer proximity, greater flexibility and more cost-effective integrated storage of their samples within the United States.
“Research Triangle Park is well-known in the industry as an innovation hub and it’s incredibly exciting for us to have space on the ground here as we continue growing our biorepository services in an environment that lends itself to expansion and growth.
“This acquisition reflects our proactive approach to growth and highlights our commitment to meeting the increasing customer need for high-quality biospecimen storage solutions that ensure scientific asset protection.”