hVIVO PLC (AIM:HVO) chief executive Yamin ‘Mo’ Khan tells Proactive's Stephen Gunnion about the company’s strategic acquisition of Cryostore, a specialist in temperature-controlled storage solutions for biological and clinical samples. Based in Greenwich, Cryostore enhances hVIVO’s biobank services under its hLAB banner, aligning with hVIVO's goals of expanding lab services and offering a fuller service to clients.
The acquisition, valued at up to £3.2 million, involves £2.7 million in cash and £500,000 in equity, and aims to leverage Cryostore’s established client base and regulatory certifications.
With Cryostore’s 32 freezers and nearly 3,000 square feet of storage space, hVIVO plans to integrate its existing biobank facility near Cambridge, enhancing its service offerings to clinical trial clients. The acquisition is also expected to support cross-selling opportunities within hVIVO’s clinical services and human challenge trials.
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