Management buy-out of BioReliance

Heidelberg, Germany-based biotechnology company BioReliance Manufacturing GmbH says it has been purchased from its parent, Invitrogen Europe, in a management buy-out by a consortium headed by current managing director Thomas Pultar and a group of investors. The company will operate under the name BIOMEVA. Terms of the acquisition were not disclosed.

"This is a win-win situation for Invitrogen and BIOMEVA," said Bernd Brust, vice president for Invitrogen Europe. "Bacterial contract manufacturing was not aligned with our strategic direction and, with the new ownership of the operation by BIOMEVA, clients will continue to be well served in the years ahead. BIOMEVA will retain the current management and gain the flexibility to aggressively pursue opportunities as an independent business," he added.