Vancouver’s Precision NanoSystems has been acquired by Danaher Corporation’s Life Sciences platform.
PNI will join Danaher’s Life Sciences platform and will be complementary to other businesses in the platform, including Cytiva and Pall.
PNI is a global leader in ushering in the next wave of genetic medicines in infectious diseases, cancer and rare diseases, including mRNA vaccines and therapeutics.
In February, PNI received a contribution of $25.1 million through the Strategic Innovation Fund (SIF) to establish a biomanufacturing centre in Vancouver dedicated to the production of ribonucleic acid (RNA) lipid nanoparticle vaccines and genetic medicines.
According to people familiar with the matter, the acquisition will not change PNI’s local real estate plans.
“Joining Danaher’s Life Sciences platform allows our world-class team to accelerate and expand the work we are doing to support our customers with comprehensive technology platforms and the expertise to manufacture transformative medicines for the benefit of humanity,” James Taylor, co-founder and CEO of Precision NanoSystems said.
“With the global reach of the Danaher Life Sciences platform and customers who are leaders in biotechnology, this is an incredible opportunity to bring PNI’s innovations to market and expand our impact.”
The overall mRNA therapeutics and vaccines market is growing rapidly, and accelerated with the development of COVID-19 mRNA vaccines. It is anticipated that mRNA technology will be used to develop other vaccines and to treat other conditions of high unmet medical need, such as cancer and genetic diseases.
“PNI has advanced a number of exciting innovations and we’re thrilled to welcome this talented team,” says Emmanuel Ligner, Danaher Group Executive.
“As mRNA has matured as a successful technology in some COVID vaccines, we’re seeing huge potential for this technology to accelerate other therapies. The work done so far by the PNI team will also enable our customers at Cytiva and Pall to take a huge step forward in advancing their science to improve the lives of patients.”