Vector Laboratories Completes $124 Million Buyout; Initiates Acquisition Strategy; Appoints Former 10x Genomics and Maravai LifeSciences Exec as CEO; Launches VectaMount Express
Vector Laboratories, the market leader in the development and manufacture of labeling and detection reagents for biomedical research, today announced that it has closed a $124 million cash buyout, backed by private equity firm Thompson Street Capital Partners to accelerate its expansion into protein detection. This new funding enables Vector Laboratories to embark upon an acquisition strategy, while also accelerating the commercialization of innovative labeling and detection technologies for immunohistochemistry, immunofluorescence, glycobiology, and bioconjugation. Through this buyout, Vector Laboratories has gained the flexibility of a well-funded startup combined with a market-tested product portfolio driving innovative research by academic, industrial, and clinical researchers around the world.
The buyout was led by Lisa V. Sellers, Ph.D., now appointed Chief Executive Officer. Prior to taking the helm at Vector Laboratories, Dr. Sellers served as Chief Operating Officer at the company. Previously, she served as VP of Marketing at 10x Genomics, having led marketing during the company's hyper-growth phase. In addition, she has held leadership roles overseeing the global reagent and instrumentation businesses for Applied Biosystems, Life Technologies, and ThermoFisher Scientific.
"For over 40 years, Vector Laboratories' products have been trusted by disease and therapeutic researchers to accelerate their lab processes and improve productivity. Now, as a newly-private company, we are able to nimbly innovate to rapidly take advantage of the unparalleled growth we're seeing across the life sciences sector," said Dr. Sellers, CEO, Vector Laboratories. "This wouldn't have been possible without the financial and strategic support of Thompson Street Capital Partners, who share our vision for an agile, forward-thinking company that can help drive biological discovery to new heights and support the thriving biotech and pharmaceutical industries."
"We're delighted to have supported Lisa and her team through this transaction. The protein detection market has never been so important and in such demand," said [Spokesperson] TSCP. "This is why we believe that Vector Laboratories is better positioned as a stand-alone private company. Now, it can fully focus on developing and commercializing new products at a velocity that can match the pace of demand in this market."
As a newly private company, Vector Laboratories today also launched VectaMount® Express, a novel mounting medium for immunohistochemistry applications. The mounting formulation is designed to improve laboratory productivity and reduce chemical solvent waste. It enables specimens to be directly mounted following staining (no need for lengthy dehydration or clearing washes), offering convenience and saving time, whilst also retaining image quality. VectaMount Express is compatible with horseradish peroxidase (HRP) and alkaline phosphatase (AP) enzyme substrates, as well as commonly used counterstains, preserving the intensity, localization, and clarity of staining in the specimen.
Vector Laboratories has been pioneering innovative labeling and detection technologies for more than 40 years. As the first company to commercialize avidin-biotin enzyme complex kits for immunohistochemistry and antifade mounting media for immunofluorescence, Vector Laboratories has since introduced over 600 reliable reagents and kits. Maravai LifeSciences acquired the company in 2016, recognizing that Vector Laboratories has "…exceptional products, a history of success and outstanding growth possibilities." Now, Vector Laboratories intends to build on its distribution network and its manufacturing facilities while reinvigorating its marketing to strengthen the company as a stand-alone brand.
The first step in this journey is the release of VectaMount Express, the first product from the newly independent company to add to a market-leading product portfolio.
"Our mission is to drive innovation to accelerate lab processes and improve productivity for our customers," said Pamela James, Ph.D., Senior Director, R&D and Operations of Vector Laboratories. "Mounting is a critical step to protect and preserve biological specimens, and optimize imaging. VectaMount Express will considerably shorten this time-consuming process, reducing both costs and waste."
Additional information is available from prnewswire.com.
About Vector Laboratories
Vector Laboratories is a pioneer of innovative technologies around protein detection for more than 40 years. Developing, manufacturing, and marketing labeling and detection reagents for immunohistochemistry, immunofluorescence, DNA/RNA and glycobiology, the company serves customers in disease and therapeutics research with tools that help them precisely visualize and study tissues and cells. With headquarters in Burlingame, California, the company maintains a network of more than 40 distributors across the globe. For more information about Vector Laboratories, please visit: www.vectorlabs.com.
Contacts for the media:
Lisa V. Sellers, Ph.D.
Chief Executive Officer