Company also announces new name and leadership slate
Performance Cell Manufacturing (“PCM”), a contract development and manufacturing organization (“CDMO”) with more than 15 years of experience in manufacturing cell therapies, today announced that it has been acquired by Great Point Partners (“GPP”), a Greenwich, Connecticut based private investment firm focused on the healthcare industry. As part of the transaction, the company also announced that it will operate under a new name: Cellipont Bioservices.
This is the latest in a series of CDMO investments by Great Point Partners. The firm has also made investments in other CDMOs, including Cytovance Biologics, MaSTherCell, Tergus Pharma and Bionova Scientific.
“The Cellipont Bioservices team continues to demonstrate their ability to deliver for clients with an unwavering commitment to quality as its top priority”, commented Noah Rhodes, Managing Director at Great Point Partners. “Across their process development and manufacturing services, the team shares both scientific depth and a steadfast dedication to client service. We were impressed with the business from the first meeting that we had with founder Bob Harman, and we look forward to supporting the Cellipont team as it expands its offerings to help deliver promising new cell therapies to patients.”
Cellipont Bioservices’ board of directors has appointed Deborah Wild as President and Chief Executive Officer and Will James as Chief Financial Officer. Carolyn Wrightson, who has served as Chief Operating Officer for the predecessor company for more than 15 years, will continue in that role.
“As we shift into the next chapter of the company’s existence, we felt rebranding was important to reflect the essence of our team and mission,” said CEO Deborah Wild. “By combining “cell” with the latin root for bridge (pont), the name Cellipont Bioservices reflects several dimensions of our vision: we bridge our innovator clients with patients; we bridge technical excellence and personal service; and for our team, we bridge personal passion with professional vocation. We are excited to reintroduce Cellipont Bioservices to the industry over the coming months.”
About Cellipont Bioservices
Cellipont Bioservices is a privately-held cell therapy CDMO based in San Diego, California with more than 15 years of experience in the development and small-to-large batch manufacturing of cell therapies. Our team has deep technical expertise and has been recognized by customers and partners for its ability to productively grow challenging cells. Our culture is customer-centric with a focus on flexibility and responsiveness. For more information, visit www.cellipont.com.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $307M of committed capital. Great Point manages capital in private (GPP I, $156M and GPP II, $215M of committed capital, and GPP III, $307M) and public equity funds (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. For more information, visit www.gppfunds.com.