Leinco Technologies, which manufactures bulk antibiotics, recombinant proteins and other biotechnology for the life sciences industry, said a recent acquisition will advance its work in the in-vitro diagnostics – testing done on blood and tissue samples – and research sectors.
The Fenton-based company said it acquired QED Biosciences from Swedish biotechnology company Genovis. San Diego-based QED produces antibodies, kits, and recombinant proteins and antigens for the biopharmaceutical and research industries.
Leinco, which announced the deal Tuesday, did not name a purchasing price.
Leinco said in a statement that it acquired QED with backing from suburban Boston private equity firm Ampersand Capital Partners, which began investing in the company in 2021.
"We are thrilled to integrate Genovis's antibody business into our portfolio and look forward to serving all of QED's current customers,” Leinco founder and CEO Pat Leinert Sr. said in a statement. “This acquisition strengthens our position in the antibody market by allowing us to offer an even broader range of innovative, high-quality products to our global customers."
“The addition of QED Bioscience antibodies complements Leinco's existing range of virus-specific antibodies, antigens and serology kits, aligning with our company strategy and partnerships with academic institutions like Vanderbilt University, Washington University and the Global Pandemic Prevention and Biodefense Center,” Patrick Leinert Jr., Leinco's vice president of sales and business development, said in an email. “Furthermore, QED's antibody portfolio in cancer research, neuroscience and immunology is also valuable for the life science and diagnostic markets.
“Within the next six months, operations and inventory will relocate to St. Louis, ensuring continued U.S. manufacturing,” he said. “This strategic move strengthens our market position, aligns with our vision, and allows us to offer greater value to customers in the life science sector and as an IVD raw material supplier. Regionally, we anticipate creating several high-paying biotech jobs in St. Louis within the next six months to a year as a result of this transaction.”
He said Leinco now has almost 50 employees in Fenton, with his father owning a minority share along with majority shareholder Ampersand.
“Our joint goal is to make Leinco a biotech leader for life science research markets and diagnostics,” he said.
Ampersand Operating Partner and Leinco Chairman Frank Witney praised the development in a statement: "We look forward to integrating QED's exceptional capabilities and high-quality products and services into the Leinco portfolio. The addition of QED positions Leinco well for continued growth as a global leader serving the antibody market."
QED Biosciences had announced a partnership with Genovis in 2020.
"We are pleased to have found a strong partner in Leinco Technologies to take over our antibody business," Genovis CEO Fredrik Olsson said in a statement. "We believe that under Leinco's ownership, the antibody business will thrive and continue to serve its customers with the same commitment to quality and innovation."
