by Jason Parker — November 3, 2022
APEX – The Apex-based startup Polyzen, a contract developer and manufacturer of custom medical-grade polymer components, has been acquired by the advanced biomaterials company Solesis.
Financial terms of the deal were not disclosed.
But the co-CEOs of Polyzen, Nikin Shah and Rubin Shah, noted in a statement that selling the company to Solesis would enable the firm to “accelerate the development of life sciences solutions to address key challenges faced by our medical device and bioprocessing customers.”
Solesis is headquartered in Telford, PA, and also maintains and operates four manufacturing facilities in Pennsylvania and North Carolina.
“The acquisition creates meaningful value and opportunity for Polyzen and Solesis’ shared customer base,” said Shah in the statement.
Moving forward, Polyzen will operate as a subsidiary of Solesis.
“We are thrilled about what this new partnership will mean for our customers going forward,” said Karen West, CEO of Solesis. “Polyzen enhances Solesis’ breadth of polymer-based technologies, know-how, and capabilities, all of which will enable us to continue to deliver innovative solutions to our customers.”
Solesis also operates two additional subsidiaries, Secant Group and Charter Medical.
Last month, Cary-based startup Myxx was acquired by an Atlanta-based company.
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Apex firm Polyzen bought by advanced biomaterials company Solesis – WRAL TechWire