Sanford Health Acquires Hematech, Inc.
by KDLT News
January 04, 2013 1:40 PM
Sanford Health announced today the acquisition of Sioux Falls-based biotech company Hematech, Inc., a subsidiary of Japanese pharmaceutical company Kyowa Hakko Kirin (KHK), Co. Ltd. The new company will be rebranded Sanford Applied Biosciences, LLC.
“We are excited about the expertise Hematech researchers bring to Sanford Research,” said Dave Link, senior executive vice president, Sanford Health. “For more than a decade, Hematech has been conducting cutting-edge research in Sioux Falls. By coming together, we believe we can build on Hematech’s expertise and technology and bring about new solutions to serious health issues. “
Hematech, Inc. was founded in 1998 in Amherst, MA, with the idea to produce fully human antibodies in genetically engineered cattle as medicine for humans.
In 2003, Hematech formed a joint venture with Trans Ova Genetics of Sioux Center, IA. Trans Ova is one of the world's largest bovine embryo transfer companies. The Hematech/Trans Ova Joint Venture was formed to manage all of Hematech's animal needs, including work at the Research Development Center located near Sioux Center.
“Sanford Health has developed great research infrastructure over the last decade,” said Eddie Sullivan, PhD, president, Hematech. “Sanford’s commitment to improving the human condition is a great fit for the employees of Hematech and will allow us to continue to develop new and innovative science to prevent and treat illness.”