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29 November 2017

Puridify clears GE Healthcare acquisition

UCL spinout Puridify has been acquired by GE Healthcare for an undisclosed sum, also providing an exit to Touchstone Innovations and GlaxoSmithKline’s SR One unit.

Author: Thierry Heles, editor

Puridify, a UK-based developer of a nanofiber-based platform purification technology for the biopharmaceutical industry that is based on research at University College London (UCL), was acquired by healthcare company GE Healthcare yesterday.

Financial terms of the transaction have not been disclosed.

Puridify has developed technology, dubbed FibroSelect, that improves the efficiency of purification in biopharmaceutical production. The technology is based on research at UCL’s Department of Biochemical Engineering.

Following the acquisition, GE Healthcare will invest in Puridify to commercialise the technology and integrate it with its own purification products. The spinout’s 17 staff will move to GE Healthcare Life Sciences’ BioProcess business and remain at their current location.

The spinout previously closed a $3.4m series A round in 2015 backed by Touchstone Innovations, the commercialisation firm spun out of Imperial College London, UCL Business, the tech transfer arm of UCL, and SR One, the corporate venturing arm of pharmaceutical firm GlaxoSmithKline.

In 2014, Touchstone and SR One co-led a $1.4m seed round that also included UCL Business.

Oliver Hardick, chief executive of Puridify, said: “Puridify has spent the last three years developing the industrial FibroSelect technology in close collaboration with leading biomanufacturers with promising results.

“We are excited to take this next step as part of GE Healthcare, with the full support and experience associated with one of the industry leaders in this field.

“This deal gives full recognition to the Puridify development team and to the strong potential of the FibroSelect technology platform.”

Supporting articles: Imperial purifies UCL's spin-out

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