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Summa Equity has acquired a majority stake in science tools business Axion BioSystems with the intent of further entering the CGT market.
Summa Equity has acquired a majority stake in Axion BioSystems, a US life science tools business specializing in microelectrode arrays (MEA) and impedance technology for single-cell analysis. Axion provides an integrated technology platform for cell activity monitoring, typically used by academia or biopharma customers for non-invasive, real-time study of cells. Axion’s technology was of particular interest to Summa with regards to cell and gene therapy (CGT), which could be instrumental in curing various acquired and genetic diseases.
“Summa has been focused on solutions in the CGT market for a long period of time, due to its alignment with our strategy and its significant potential for growth,” said Tommi Unkuri, a partner at Summa Equity, in a press release from July 16, 2021. “Axion BioSystems impressed us with its … scalable technology, which gives both academics and biopharma organizations the ability to go much deeper in their understanding of cell behavior, enabling faster, more accurate and more cost-efficient drug discovery, development and quality control.”
“We have been highly impressed with Summa’s understanding of the life sciences market, and belief in the potential of our technology to accelerate innovation in many areas of pharmaceuticals and healthcare,” said Tom O’Brien, CEO and president, Axion BioSystems in the press release. “We believe that they will bring tremendous value in helping us to increase our commercial capacity, reach, and market awareness to scale up significantly and have an even greater impact in the years to come.”