Virginia Beach, Va.-based LifeNet Health, an organ transplant solutions company, has acquired Birmingham, Ala.-based biotechnology company Vivo Biosciences, according to the Birmingham Business Journal.
LifeNet Health, which provides transplant solutions like organ procurement and cellular therapies, plans to fold Vivo Biosciences' products into the company's "life sciences" division. This newly-created division will focus on personalized medicine.
Vivo Biosciences' primary development was HuBiogel, a substance the company created to bind cells together. Vivo Biosciences developed these cells into tumor models, which it leveraged for drug efficacy and toxicity testing.
"These advances will enable researchers to better predict which medicines will be effective in fighting diseases such as cancer, saving time in treatments for patients," Rony Thomas, president and CEO of LifeNet Health, told the Birmingham Business Journal.