Prometic Bioseparations becomes Astrea Bioseparations, emerges from COVID-19 stronger with key strategic acquisitions, and ultimately attracts the attention of Biotage!

Welcome to Chapter 4.

By Steve Burton, President and Chief Scientific Officer, Astrea Bioseparations

Close

As already noted, Prometic had significant interests in plasma products and related technologies, but it also had a small molecule arm. At any one time, there were many development programs and collaborations in play, which resulted in a broad base. But when programs were halted or mothballed, it presented challenges for the public company, despite the capital-raising talents of president and CEO Pierre Laurin.

Cutting another long story short, the deconstruction of Prometic into its viable constituent parts ultimately resulted in the divestment of my group, Prometic Bioseparations, to KKR in November 2019. A couple of months earlier, Prometic Life Sciences had become Liminal BioSciences, signaling a fresh start and a renewed focus on its small molecule therapeutics division. On the other hand, we were free to grow independently and extend our leadership position in the field of bioseparations with the support of KKR, as I noted at the time.

KKR actually acquired Prometic Bioseparations through a new life science tools investment platform called Gamma Biosciences, which was set up to drive innovation in advanced biological therapies by championing next-generation biomanufacturing tools and technologies.

In early 2020, Prometic Bioseparations rebranded to Astrea Bioseparations, reflecting our focus on purity, precision, and humanity. It was also an overt nod to our new independence and the next chapter in our story. To support Gamma Biosciences’ mission and our own growth aspirations, we were tasked with boosting our management team and engaging in some M&A activity of our own.

And then COVID-19 hit.

Despite the challenging new work environment, Astrea Bioseparations emerged stronger with a couple of strategic acquisitions: Essential Life Solutions and Nanopareil.

Amongst all that activity, I took a step back to become President and Chief Scientific Officer. In 2021, Gamma Biosciences brought in new chief executive and chief commercial officers, and, all of a sudden, the company seemed to be on fire! Astrea Bioseparations grew very rapidly between 2022 and 2024, and the whole team felt part of a real ongoing success story. (A success story that was nearly 40 years in the making, from my perspective!)

As one of the more visible brands in the bioseparation space but also thanks to our excellent reputation, Astrea Bioseparations attracted the interest of Biotage. “With Astrea’s expert team and broad product portfolio with a near-term pipeline of product launches, we are now well-equipped to target biologics and the new modalities emerging in the biopharma industry,” said Biotage CEO and President Tomas Blomquist of the June 2023 acquisition.

Missed Chapter 3: Royal recognition? Read it here. 

Chapter 5: "Pride and patients" coming soon...

First published for The Purification People newsletter, connecting downstream professionals.

Subscribe here