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Advion Acquires the Assets of its
BioSystems Manufacturing Partner
Ithaca, NY, March 12, 2008 - Advion BioSciences, Inc.,
through its BioSystems subsidiary, announces it has
acquired certain assets of its long-standing out-sourced
production supplier, Washburn Manufacturing Technologies
Inc., located near the company’s headquarters in Ithaca,
NY. Under the terms of agreement, Advion BioSystems will
absorb nearly the entire manufacturing operation and
employees of Washburn Manufacturing into its business
effective immediately, including the founder of the
production company, Tom Washburn.
The transaction immediately increases Advion’s gross
margins and brings vital skill sets to the Company
including quick turn development prototyping, machining,
injection molding capabilities, and enhanced assembly,
test & quality functions. In addition, by bringing the
manufacturing in-house allows the Company to better
streamline its processes across current and future
product lines. This results in increased flexibility and
responsiveness to market demands.
Thomas Washburn commented on the acquisition, “I’ve
worked with Advion for many years, and this acquisition
is a natural fit. This will enhance the products we
deliver.” Commenting on the transaction, Advion’s CEO
David B. Patteson stated, “Advion is devoted to
providing the highest quality products to its customers,
and this acquisition places us in a better position to
accomplish this goal. Advion’s growth profile has been
notable over the past several years. We needed a more
fully developed operations base to flex upward with our
current systems platforms and those which are planned
for launch over the next 18 months.”
Continuing, Timothy McGrath, Advion’s Senior Vice
President of Operations stated, “Insourcing our
production is a key element in our ability to continue
to provide world class delivery in support of
significant future growth initiatives. We are fortunate
to have the local skill sets which allow for this
transition. It is envisioned that over the next 12
months all of Advion’s product platforms will be
produced by the company’s employees in New York,
including the NanoTek clinical diagnostic products,
currently produced in Knoxville, TN.”
About Advion BioSystems, Inc.
Advion is the scientific leader in micro-fluidics
systems. The company’s scientific knowledge base creates
unique nanotechnologies delivering speed, flexibility,
and exceptional data quality. Advion is the
micro-fluidics supplier of choice for customers
demanding scientific excellence that provides better
synthesis, accurate mass analysis, higher yields and
greater throughput. More information about the company
can be found on their website at
www.advion.com.
Company Contact
Timothy McGrath
Senior Vice President of Operations
Advion BioSciences, Inc.
P: 607.266.0665 ext. 318
TMcGrath@advion.com
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