Element Materials Technology Acquired Avomeen, Pharmaceutical Analytical Testing Company, Significantly Expanding Group’s Life Sciences.
Element Materials Technology Has Acquired Avomeen, A Pharmaceutical Analytical Testing Company, Significantly Expanding The Group’s Life Sciences Business Unit In North America.
Avomeen focuses on pharmaceutical testing, biotechnology and FDA regulated consumer products with a team of 80 scientists and experts. Avomeen enhances Element’s expertise across a wide range of scientific disciplines, bolstering its offering in key strategic growth areas, including formulation chemistry, product manufacturing, extractables & leachables, and large molecule testing.
Avomeen operates out of a facility in Ann Arbor, MI. The company is FDA registered, DEA licensed, and ISO accredited, all providing a comprehensive extension to Element’s existing range of services, and supporting its strategy to become a full-service solutions provider in the life sciences market. Avomeen achieved record revenue growth of 23% in 2020. Avomeen has been actively supporting companies who develop virus diagnostics and therapies, as well as manufacturers of products such as hand sanitizer.
Jo Wetz, Element CEO, said, “This is our third acquisition of 2021 and helps to build Element’s growing position in the life sciences sector, expanding our presence in the American pharmaceutical market. Avomeen’s service offerings and recent entry into new end markets complement Element’s current pharmaceutical services and clients, and the team’s deep technical knowledge and additional capacity provide us with a significant step-up in scale across the U.S.”
Mark Harvill, Avomeen CEO, said, “We are thrilled to be joining the Element global family and combining our complementary capabilities to offer an even wider array of services and value to our clients. Element’s focus on scientific excellence and quality, coupled with its partnership with clients and employees, aligns well with Avomeen’s values and what we will collectively continue to do as one company.”
Element’s existing network of life sciences labs provide specialist testing services, including chemical and physical characterization; formulation development; storage stability, extractable and leachable studies; virology and virus identification; cell banking; antimicrobial and microbial testing; elemental impurity testing on a wide range of drug, nutraceutical, medical device and consumer products; cytotoxicity, bioburden, endotoxin and TOC testing; pathogen identification; bacterial analysis and nutritional chemistry.
This news was originally published at Contract Pharma.