Live-Cell Imaging Innovator CytoSMART Technologies Has Been Acquired by Axion BioSystems

Amsterdam,  21 March 2022 – We’re proud to announce that our portfolio company, CytoSMART Technologies, an innovator in kinetic live-cell imaging analysis, has been acquired by Axion BioSystems, a leading life sciences tools company focused on advanced live-cell assay systems. Holland Capital, together with BOM Capital, first joined CytoSMART in 2016 to help grow the company’s product portfolio and to stimulate commercial growth. In 2019, ECFG joined the investors in a Series B funding round, further accelerating commercial expansion and supporting continued product innovation. With the acquisition by Axion, CytoSMART can continue to roll out their R&D and commercial strategy at a global scale, helping advance live-cell imaging research even further.

Noninvasively studying the real-time biology of live cells allows scientists to obtain a more complete understanding of the complex processes underpinning health and disease. In their respective arenas, both Axion and CytoSMART have focused on the development of next-generation analysis tools for use in pharmaceutical, academic, and biotechnology research. Along with Axion’s recent acquisition of UK-based printed electronics manufacturer M-Solv Manufacturing Limited, this latest product portfolio expands the company’s offerings and opportunities in a rapidly growing life sciences tools market.

According to Joffry Maltha, CEO of CytoSMART, the mutually beneficial partnership is a natural fit. “Axion’s overall mission and corporate culture align with our efforts to provide scientists around the world with high-quality, easy-to-use products to advance their research goals. With Axion’s resources and experience, we look forward to accelerating our market growth and product innovation.”

 “In CytoSMART, we found a company with technology complementary to our own, as well as a partner with the same fundamental objective—to provide customers with high-quality instruments and powerful software that rapidly advance live-cell research and cell therapy development. We welcome the entire CytoSMART team, and we are excited to add their expertise to our own,” said Tom O’Brien, President & CEO of Axion BioSystems.

Jan Frens van Giessel, partner Holland Capital, said, “We’re very proud to see what major steps CytoSMART has realised within the life sciences industry and are excited to see that the partnership with Axion BioSystems allows the company to take the next step forward. We wish both companies continued success!”

About Axion BioSystems
Axion BioSystems is a leading life sciences tools company focused on innovative live-cell assays used to study the function of cells in vitro for drug discovery and disease modeling. The team at Axion BioSystems is dedicated to continuing the advancement of new technologies that accelerate research and further the understanding of biological complexity outside of the body. Axion BioSystems is headquartered in Atlanta, Georgia, USA, and has offices worldwide. Axion has more than 90 employees across its current locations. www.axionbiosystems.com

About CytoSMART
CytoSMART Technologies is a specialist in the development and manufacturing of live-cell imaging systems for life science laboratories. The company was founded in 2012 by a team of biologists and engineers who were convinced that a new generation of miniaturized microscopes, powered by artificial intelligence for image analysis, would allow biologists to make discoveries more efficiently and at scale. In 2018, CytoSMART was selected by Microsoft for its prestigious ScaleUp program. CytoSMART’s microscopy solutions are used in research laboratories worldwide. CytoSMART Technologies is headquartered in Eindhoven, the Netherlands, and has more than 50 employees.  www.cytosmart.com

About Holland Capital
Over the past 40 years, Holland Capital has responsibly and successfully invested in over more than 150 SME-companies. With a clear investment strategy Holland Capital is active in the attractive growth markets of Healthcare and Technology. Holland Capital’s experienced and committed investment team aims to establish an open, sustainable, and professional relationship with the companies they invest in, with the common goal of achieving growth. Holland Capital is backed by a broad network of successful healthcare entrepreneurs in the relevant growth markets.

Quantib has been acquired by RadNet

ROTTERDAM, January 24, 2022 – Our portfolio company Quantib has been acquired by RadNet, Inc. (NASDQ: RDNT), a US leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 350 owned and operated outpatient imaging centers. Quantib is a leading radiology artificial intelligence (“AI”) company focusing on clinical solutions for prostate cancer, breast cancer and neurodegeneration.

Founded in 2012 as spin-off from the Erasmus Medical Centre and based in Rotterdam, Quantib has multiple AI-based solutions with both CE mark and FDA 510(k) clearance, including Quantib Prostate for analysis of prostate MR images and Quantib ND to quantify brain abnormalities on MRI.  Quantib has customers in more than 20 countries worldwide, including the United States. Holland Capital and InnovationQuarter  joined the company in 2017 as investors. With the investment, Quantib has expanded her product portfolio and accelerated commercial growth.

Arthur Post Uiterweer, CEO of Quantib noted, „We are thrilled to join the RadNet family. Quantib aims to enable more accurate and efficient clinical decision-making for 10 million patients by 2030.  Being part of RadNet enables us to take a major step towards this goal. Our products, that are already received very well by customers, will see a tremendous boost in performance over the coming years to the benefit of all of our rapidly expanding global user base.”

Dr. Howard Berger, Chairman and CEO of RadNet, noted, “We remain convinced that artificial intelligence will have a transforming impact on diagnostic imaging and the field of radiology.  We are very pleased to expand our portfolio of AI software into other cancer screening domains. With the addition of Quantib, we will now have effective screening solutions for the three most prevalent cancers“. 

Jan Frens van Giessel, partner Holland Capital, “We are proud that we have been able to assist Quantib in the past 5 years in realizing its growth ambitions. With the acquisition of RadNet, Quantib can take the next step forward and make an even greater contribution to improving and optimizing (international) healthcare”.

The full management including Arthur Post Uiterweer (CEO), Jorrit Glastra (CTO) and Quirine van Voorst (COO) will stay onboard with Quantib and are thrilled to continue to lead the company as it enters this exciting new phase.

About Quantib
Quantib’s AI radiology solutions enable faster and more accurate diagnosis by quickly identifying abnormalities, supporting adequate and timely patient care. Using state-of-the-art artificial intelligence techniques, Quantib’s software advances the diagnostic pathway by providing FDA-cleared and CE marked solutions related to neurodegeneration and prostate cancer. All solutions are deployed through Quantib’s AI Node platform enabling seamless workflow integration and rapid regulatory clearance of future products. Quantib was founded in 2012 as a spin-off of Erasmus Medical Centre in Rotterdam, the Netherlands. It has a rapidly expanding team of 35 employees and has customers across 20+ countries globally.  www.quantib.com.

About RadNet
RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services and related information technology solutions (including artificial intelligence) in the United States based on the number of locations and annual imaging revenue.  RadNet has a network of 350 owned and/or operated outpatient imaging centers.  RadNet’s markets include California, Maryland, Delaware, New Jersey, New York, Florida and Arizona. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of approximately 9,000 employees.  www.radnet.com.

About Holland Capital
Over the past 40 years, Holland Capital has responsibly and successfully invested in over more than 150 SME-companies. With a clear investment strategy Holland Capital is active in the attractive growth markets of Healthcare and Technology. Holland Capital’s experienced and committed investment team aims to establish an open, sustainable, and professional relationship with the companies they invest in, with the common goal of achieving growth. Holland Capital is backed by a broad network of successful healthcare entrepreneurs in the relevant growth markets. www.hollandcapital.nl