Washington DC – QuantaLife, one of the nation’s most promising life sciences companies, was purchased this week by Bio-Rad Laboratories for $162 million – marking another successful exit for Paladin Capital Group. Paladin helped nurture QuantaLife from a tiny startup with a great idea to a dynamic company that is helping to accelerate the search for causes, cures and diagnostics for many important diseases, including cancer, HIV and genetic birth defects.
“We’re proud of the guidance and support we were able to provide QuantaLife and are absolutely thrilled that this company and its promise for helping to effectively treat diseases like cancer and drug-resistant viruses will continue to prosper with Bio-Rad Laboratories,” said Michael R. Steed, Founder and Managing Partner of Paladin Capital Group.
QuantaLife developed a digital PCR system called Droplet Digital™ (ddPCR) that identifies cancer and other specified molecules with unmatched precision and sensitivity. Digital PCR offers researchers a new tool for the detection of mutations, including rare sequences in tumors, precise measurement of copy number variation and absolute quantification of gene expression. The technology not only helps in the fight against all manner of cancer and disease but also the drug-resistant viral infections, like MRSA, that are increasingly found inside hospitals. QuantaLife is based in Pleasanton, CA.
“This is a great outcome for QuantaLife’s employees and investors,” said Bill Colston, CEO of QuantaLife. “We look forward to seeing our technology fulfill its potential to save and improve lives in the future as part of the Bio-Rad family. We’re grateful for the support and commitment of Paladin who took a risk on us very early and stuck by us through thick and thin.”
When Paladin began working with QuantaLife, the startup was basically a few brilliant guys from Lawrence Livermore National Laboratory with a good idea. Paladin’s Dr. Paul Conley, a Principal at the firm with deep experience in helping startups navigate the challenges of commercializing a technology and managing growth, immediately stepped in to help.
“As a member of the Board, Paul really rolled up his sleeves and helped me through all the various challenges facing a first time CEO at a young startup,” Colston said.
The result helped turn QuantaLife into the promising business it is today.
“We are impressed with QuantaLife’s digital PCR technology and believe it will complement Bio-Rad’s existing amplification business” says Norman Schwartz, Bio-Rad president and CEO. “This elegant solution expands the current state-of-the-art methods of quantitative PCR”
About Paladin Capital Group
Headquartered in Washington, D.C., Paladin Capital Group is a leading multi-stage private equity firm providing capital for growing companies whose principal business centers on products and services that address homeland security issues and needs. Paladin has over $950 million dollars of committed capital across multiple funds and 37 portfolio companies. For more information, please visit http://test-paladincg.pantheon.io
About QuantaLife
For more information about QuantaLife, vist: http://www.quantalife.com/
About Bio-Rad
For more information about Bio-Rad, visit: http://www.bio-rad.com/