Case Study
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Client: Stokes Bio Ltd |
Description: IBI advised Stokes Bio Ltd in relation to its sale to Life Technologies Corp. The sale was completed in April 2010. Stokes Bio is a Limerick-based company dedicated to the development and application of microfluidic technology, which helps to radically improve and enhance life sciences research and molecular diagnostics. The products arising from these technologies are used for discovery of markers for cancer that will lead to a new approach to the diagnosis of cancer and pathogen detection. The company was founded in 2005 by Mark Davies and Tara Dalton based on technology developed by the Stokes Research Institute at the University of Limerick and Kernel Capital Partners was one of its main investors. US-based Life Technologies Corp. is a global biotechnology tools company providing systems, consumables and services for scientific researchers around the world. Life Technologies is advancing scientific research in areas like academic research, drug discovery and development, toxicology and forensics, disease diagnostics, clinical cell therapy and regenerative medicine and biologics manufacturing. IBI assisted Stokes Bio in assessing its funding options in Q3 2009 and advised the company on the need to bring a larger strategic partner on board given its medium-term funding requirements. IBI subsequently approached a small number of potential strategic partners on behalf of the company and entered into exclusive sale discussions with Life Technologies early in the process, which culminated in the sale of Stokes Bio to Life Technologies.
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IBI Contact: ted.webb@ibicorporatefinance.ie |