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BioGenerator Company Canopy Biosciences buys California analysis firm

Dec 13, 2019

Canopy Biosciences, a 2-year-old St. Louis company providing genomics products and services, made its second acquisition this week.

Canopy announced Wednesday that it bought Core Diagnostics, a Hayward, California, provider of biomarker analysis for pharmaceutical researchers.

Canopy had bought Zellkraftwerk, a German company with technology for identifying proteins, in April. Ampersand Capital Partners, a Boston-based private equity firm, invested in Canopy to support both acquisitions. The size of the investments was not disclosed.

Edward Weinstein, Canopy’s chief executive, said in a statement that the acquisitions create “a unique and powerful platform for immune profiling of cells and tissues.” Because Core Diagnostics is federally certified for clinical trials, Canopy can now sell to clinical researchers in addition to its pre-clinical and academic customers.

Canopy was founded in 2017 and raised $2.4 million in 2018 from investors led by Kingdom Capital and BioGenerator.

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