(Sioux Falls, SD) – Sanford Health announced today the acquisition of Sioux Falls-based biotech company Hematech, Inc., a subsidiary of Japanese pharmaceutical company Kyowa Hakko Kirin (KHK), Co. Ltd. The new company will be rebranded Sanford Applied Biosciences, LLC.
“We are excited about the expertise Hematech researchers bring to Sanford Research,” said Dave Link, senior executive vice president, Sanford Health. “For more than a decade, Hematech has been conducting cutting-edge research in Sioux Falls. By coming together, we believe we can build on Hematech’s expertise and technology and bring about new solutions to serious health issues."
Hematech, Inc. was founded in 1998 in Amherst, MA, with the idea to produce fully human antibodies in genetically engineered cattle as medicine for humans. In two transactions between 2005 and 2008, Hematech first became a subsidiary of Kirin Pharma, which then merged with Kyowa Hakko Kogyo to form KHK. Hematech occupies more than 20,000 square feet of laboratory and office space in the Sioux Falls Technology Park.
In 2003, Hematech formed a joint venture with Trans Ova Genetics of Sioux Center, IA. Trans Ova is one of the world's largest bovine embryo transfer companies. The Hematech/Trans Ova Joint Venture was formed to manage all of Hematech's animal needs, including work at the Research Development Center located near Sioux Center. As part of the acquisition, Trans Ova will continue that work for Sanford Applied Biosciences, LLC.
“Sanford Health has developed great research infrastructure over the last decade,” said Eddie Sullivan, PhD, president, Hematech. “Sanford’s commitment to improving the human condition is a great fit for the employees of Hematech and will allow us to continue to develop new and innovative science to prevent and treat illness.”
The transaction was effective Dec. 31, 2012.