Luxcel Biosciences, an Ireland-based cellular research services provider backed by gas testing equipment supplier Mocon, was acquired by scientific diagnostics firm Agilent Technologies for an undisclosed sum on Tuesday.
Founded in 2002, Luxcel tests cell cultures to establish oxygen concentration, drug toxicity and cell metabolism. Alterations in a person’s cell metabolism can be indicative of malignant and cancerous transformations.
The tests are offered to research labs and are performed from treatment apparatus rather than from within organisms, a model known as in vitro.
Luxcel’s 12-person team will continue operating from Ireland as a sensor chemistries and bioassay unit within Agilent’s cell analysis division. LuxcelIt had raised $3.6m in funding from Mocon in a 2010 deal that gave it a 16.9% equity stake.
Richard Fernandes, chief executive of Luxcel, co-founded the company with Dmitri Papkovsky, who leads biophysics and bioanalysis in UCC’s School of Biochemistry and Cell Biology.
Fernandes said: “When Agilent approached us, it was clear to me that we have a shared passion for innovation designed to enable and support customers.
“Together, we have the potential to accelerate new product introductions by leveraging Agilent’s R&D and global commercial infrastructures with our unique biosensor chemistries and assay development expertise.”
– The original version of this article appeared on our sister site, Global University Venturing.