The acquisition of Gentronix by Scantox marks a significant moment in the life sciences sector.
- Gentronix, known for genetic toxicology expertise, joins forces with Danish group Scantox.
- The acquisition promises to expand Gentronix’s service capabilities and customer base.
- Mercia Ventures reaps a notable return on its investment with the sale of its stake in Gentronix.
- The partnership is strategically beneficial, offering synergies between Gentronix and Scantox.
Gentronix, a leading name in genetic toxicology services, has been acquired by Scantox, a Danish group, as announced by the companies. This acquisition represents what is described as a ‘fantastic next step’ for Gentronix and its 70 employees. The Alderley Park-based firm, established in 1999 by Professor Richard Walmsley, provides solutions across pharmaceutical, biotech, and agrichemical industries and has experienced significant growth in recent years.
Mercia Ventures, who held a stake in Gentronix, has sold it for £14.8 million, yielding a 4.5x return on investment. This reflects a successful exit strategy for Mercia Ventures’ Northern Venture Capital Trusts. Meanwhile, Scantox, headquartered in Ejby, south of Copenhagen, has expressed confidence in Gentronix’s renowned quality in genetic toxicology and its broad, loyal customer base.
The acquisition allows Gentronix to continue operating under the same brand name while aiming to strengthen its offerings under the Scantox umbrella. This expansion is supported by the Scandinavian investment firm Impilo. Scantox CEO, Jeanet Løgsted, stated, ‘I am thrilled that Scantox Group has been able to partner up with Gentronix.’ She emphasized the strategic addition of genetic toxicology to Scantox’s service portfolio, anticipating growth in various service areas and enhanced scientific expertise.
Matt Tate, CEO of Gentronix, views the acquisition as a chance to expand service offerings for clients further. He highlighted, ‘There is a strong strategic rationale in teaming up with Scantox, and we have identified multiple commercial synergies.’ The partnership is seen as an opportunity to propel Gentronix into a new phase of growth.
Impilo partner Nicholas Hooge expressed optimism about the growth prospects of the combined companies. He remarked on 2024 as a pivotal year for Scantox, noting the acquisition as a key milestone in fulfilling strategic goals. Alex Gwyther of Mercia Ventures underscored the success of patient capital in nurturing a world-class life sciences entity, lauding Gentronix’s momentum under current leadership.
The acquisition by Scantox sets Gentronix on a promising path for future growth and expanded service capabilities.
