Transaction positions iuvo BioScience for continued growth as an industry leader in ophthalmic clinical research
SALT LAKE CITY & ROCHESTER, N.Y.--(BUSINESS WIRE)--Canyon Labs, a global leader in analytical & packaging lab testing and consulting for medical devices and pharmaceuticals, and iuvo BioScience, a full service provider of ophthalmic medical device and pharmaceutical clinical research services, today announced a strategic acquisition that strengthens both organizations’ market positions. The agreement transfers iuvo’s respected laboratory services and scientific consulting divisions to Canyon Labs, enabling both companies to accelerate their specialized growth trajectories.
The transaction positions Canyon Labs to deliver comprehensive end-to-end solutions in pharmaceutical and medical device development and strengthens iuvo BioScience’s focus on transformative ophthalmic clinical development contract research. The seamless transition includes the full integration of iuvo’s laboratory and consulting personnel into Canyon Labs’ operations, while iuvo BioScience retains its clinical research team and leadership structure.
“This acquisition marks a significant milestone in the growth of Canyon Labs’ capacity and capabilities,” said Sarah (Rosenblum) Ptach, President of Canyon Labs. “By strategically aligning our organizations, we are delivering immediate value to our global client base through faster lead times, expanded capacities, and unparalleled expertise at every step of the process. This integration strengthens our commitment to raising the standard of service in outsourced testing and consulting for the healthcare industry.”
Backed by MedVenture Health, Canyon Labs operates from three locations: Salt Lake City, UT (headquarters), San Diego, CA, and Rochester, NY. The addition of the Rochester site significantly enhances Canyon Labs’ capabilities with advanced services in rapid sterility, in vitro and in vivo biocompatibility testing, microbiology, and analytical chemistry.
Through strategic partnerships and acquisitions, Canyon Labs continues to expand its expertise and service offerings, solidifying its position as a leader in medical device and pharmaceutical testing and consulting. The integration of an experienced leadership team, including David Kudla, Donnalee Ventura, Nancy Rakiewicz, and Christopher Dietz, strengthens Canyon Labs’ ability to deliver innovative solutions and set new industry standards. This growth underscores Canyon Labs’ commitment to advancing the quality, safety, and effectiveness of medical products.
“This transaction marks a defining moment for iuvo,” said Ben Burton, President and CEO of iuvo BioScience. “This strategic decision reinforces our fundamental mission of accelerating patient access to breakthrough vision care treatments. By sharpening our focus on our ophthalmic clinical contract research business, we’re strengthening our ability to provide the high touch, science-driven solutions our customers and partners have come to expect from iuvo.”
The announcement follows iuvo BioScience’s strategic acquisition of Promedica International, a California Corporation (“PMI”), a specialized ophthalmology contract research organization, in early 2024. Under the continued leadership of Shannon Stoddard, former President and Owner of PMI and current President, Clinical Research of iuvo BioScience, the company will expand its comprehensive ophthalmic clinical contract research services spanning anterior and posterior segment conditions. With the backing of Ampersand Capital Partners, iuvo BioScience is poised to serve as an innovative global leader in ophthalmic clinical research.
About Canyon Labs
Canyon Labs is a premier provider of comprehensive testing and technical consulting services for the pharmaceutical and medical device industries. As an ISO 17025-accredited laboratory, Canyon Labs delivers turnkey solutions, including sterilization, analytical microbiology and chemistry testing, biocompatibility, packaging validation, and expert consulting. Committed to elevating industry standards, Canyon Labs prioritizes accessible expertise, faster customer service, and seamless support throughout the testing process. With operations in Salt Lake City, UT, San Diego, CA, and Rochester, NY, Canyon Labs offers extensive capacities and strategically located facilities to streamline product launches and accelerate time to market. For more information visit www.canyonlabs.com or follow us on LinkedIn.
About MedVenture Health
MedVenture Health partners with entrepreneurs, physicians, and management teams to advance innovative healthcare products, services, and technologies that address unmet medical needs. Based in downtown Salt Lake City, Utah, MedVenture provides both capital resources and strategic expertise to support companies at pivotal stages of their development. By delivering targeted investments and guidance, MedVenture helps healthcare companies achieve their growth objectives and significantly enhance their value, driving meaningful advancements in the healthcare industry. For more information visit www.medventurehealth.com or follow us on LinkedIn.
About iuvo BioScience
Founded in 2015, iuvo BioScience is a full-service provider of ophthalmic medical device and pharmaceutical clinical research services. The company has extensive ophthalmic experience in clinical study services and has provided support for studies evaluating treatment for an extensive range of anterior and posterior segment disorders. iuvo BioScience provides an integrated suite of clinical trial services including clinical trial design, regulatory, bioinformatics, pharmacovigilance, project and site management, medical monitoring and medical writing focused solely on ophthalmology. For more information visit www.iuvobioscience.com or follow us on LinkedIn.
About Ampersand Capital Partners
Founded in 1988, Ampersand Capital Partners is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit www.ampersandcapital.com or follow us on LinkedIn.
Contacts
Media Contact:
Silvana Guerci-Lena
silvana.guercilena@launchlabpartners.com
