Istituto Italiano di Tecnologia

CrestOptics manufactures high-end microscopy instruments under its own brand and as an original equipment manufacturer (OEM) CrestOptics is a manufacturer of high-end microscopy solutions and advanced systems for fluorescence microscopy and diagnostic applications. (Credit: Konstantin Kolosov from Pixabay) CrestOptics S.p.A., a manufacturer of high-end microscopy solutions and advanced systems for fluorescence microscopy and diagnostic applications, today announced it has been acquired through a majority shareholding by Apposite Capital LLP, the healthcare specialist private equity investor. The investment will support CrestOptics’ international commercial expansion and boost product development and innovation, establishing the company as an attractive commercial partner and employer in the life science industry. CrestOptics represents the fourth investment of Apposite’s new fund, Apposite Healthcare III. Apposite forms a close partnership with its companies to provide them with the strategic, financial and human resources required to accelerate growth through expansion into new product lines and geographies, both organically and through synergistic acquisitions. As part of the agreement, Dr David Martyr will join the CrestOptics’ Board of Directors as Chair. Previously Group President of Leica Microsystems, and CEO of Tecan, David brings extensive industry experience. He will be focused on supporting the rapid expansion of the Company. CrestOptics manufactures high-end microscopy instruments under its own brand and as an original equipment manufacturer (OEM). The Company’s instrumentation can be integrated with other high-end imaging systems used in life science research to enhance detection and imaging performance. “This agreement demonstrates that CrestOptics is an established brand and a strong player in the worldwide microscopy market. Strategic collaborations with external partners such as Apposite Capital LLP will help us further enforce our market positioning and strengthen our product portfolio with other innovative technologies. Apposite and CrestOptics share the same vision for the future and see huge potential for growth” said Renato Giacobbo Scavo, CEO of CrestOptics. “CrestOptics has already started an ambitious process of internationalization and this new partnership will boost our efforts to enable us to reach a wider and more diversified market at the global level,” said Alessandra Scarpellini, PhD, Head of Sales and Marketing at CrestOptics. “CrestOptics, a leader in the development and manufacture of advanced imaging systems for life science research, is exactly the type of differentiated company Apposite seeks to invest in and we are excited to support rapid growth by accelerating further innovation and product development, and facilitate geographical expansion into new markets by leveraging our industry knowledge and contacts,” said David Porter, Founding Partner of Apposite Capital LLP. “This partnership will cement CrestOptics’ position as a pioneering and reliable imaging innovator and provider on a global scale.” “CrestOptics has already demonstrated that it is a highly capable and innovative group, offering very high performance spinning disc imaging systems at affordable prices. With an exciting pipeline of technology and products in development, including expanded super-resolution capabilities, I am delighted to be joining the CrestOptics team.” said Dr David Martyr, Chair of Board of Directors of CrestOptics. The agreement is supported by existing shareholder, Xyence, an Italian life sciences investor and partner of CrestOptics since 2018, which supports the early-stage diagnostics research programmes the Company is conducting with Istituto Italiano di Tecnologia (IIT). These research programmes in the fields of cancer, Alzheimer’s disease and point of care virus detection will be carried on by the spin off D-TAILS, led by Vincenzo Ricco, founder of CrestOptics, who will also continue to bring value to the Company in a non-executive capacity. Financial terms of the acquisition were not disclosed. Advisers to CrestOptics and Xyence: Chiomenti, Leading Law, Madlex (legal), AKRAN Intellectual Property (IP). Advisers to Apposite Capital: Deloitte (financial advisory, accounting and tax), McDermott Will & Emery (legal), PMSI (commercial), Peter Call (specialist microscopy consultant), Botti & Ferrari (IP), Lockton (insurance) Source: Company Press Release

Novartis Venture Funds, along with Novo Ventures, led a $16 million funding round of a San Diego pharmaceutical startup Thesan Pharmaceuticals. The series A financing will be used to develop new approaches in treating inflammatory skin disorders. “For many years, drug development in the dermatology field has been dominated by old drugs just reformulated into more cosmetically appealing foams, gels or lotions,” said Gordon Foulkes, Thesan’s executive chairman and CEO, in a news release. “Thesan’s mission is to develop new chemical entities with novel mechanisms of action in order to substantially improve treatment outcomes for patients with a variety of dermatological diseases.” Thesan, based in San Diego, has licensed the technology from the University of California, Irvine and the products have been developed in the laboratory of professor Daniele Piomelli, Louise Turner Arnold Chair of Neurosciences at UCI and the director of Drug Discovery and Development at the Istituto Italiano di Tecnologia (IIT) in Italy. “A novel mechanism of action with dramatic efficacy, coupled with such solid chemistry is a great starting point for the formation of a new company,” said Giovanni Ferrara, venture partner at Novartis Venture Funds, in Thesan’s news release. “Combined with a world-class team, it made for a compelling investment.”