November 17, 2021 01:32 PM | Covington Associates
November 16, 2021 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as exclusive financial advisor to Skyland Analytics, a biopharmaceutical manufacturing data management and analytics software developer, in the sale of its business to IDBS, a global life sciences software company and division of Danaher Corporation. This move will create the first BioPharma Lifecycle Management (BPLM) offering that supports therapies from early development through commercial manufacturing. Skyland Analytics is best known for its Skyland PIMS® software which seamlessly combines product, process, and patient data across the biopharma lifecycle and supply chain, providing insights that accelerate process understanding and ensure product quality.
More than half of biopharma organisations1 have process data and knowledge locked away in paper, spreadsheets and disparate systems, creating quality risks & dramatically increasing the time and cost of bringing new therapies to market.
Compared to other solutions, Skyland PIMS is built from the ground up to manage and contextualize data across the clinical and commercial production phases of the biopharma lifecycle, dramatically accelerating time to insight.
“Skyland Analytics’ powerful combination of deep domain knowledge and innovative software provide a new level of insight across the biopharma lifecycle,” said Christian Marcazzo, Vice President & General Manager, IDBS. “For the first time, process data and knowledge can be efficiently integrated throughout all stages of the lifecycle and the complex network of internal and external teams, sites, and partners so prevalent in today’s manufacturing infrastructure. We are excited to help our customers accelerate new therapeutics to market by enabling a novel level of speed, agility and insight.”
“Skyland Analytics’ expert team and solutions are a highly complementary addition to IDBS, extending our market position with PolarTM BioPharma Lifecycle Management.”
Robert Di Scipio, founder and CEO of Skyland Analytics, says: “Our entire team are thrilled to be joining a team at IDBS who share a common purpose and vision. With IDBS’ broad reach across the biopharmaceutical industry, we see significant potential to accelerate the benefits of improved process insight and understanding to more customers across the globe.”
“By bringing together IDBS Polar and Skyland PIMS we are creating a uniquely differentiated offering that helps surface the data and insights needed to accelerate drugs to market. By streamlining technology transfer, creating a persistent, dynamic data backbone throughout the product lifecycle and improving process understanding, these solutions will help in the design and monitoring of more scalable, robust and higher yielding processes. This is a significant milestone in the mission to reduce the time, cost and risk of bringing new therapies to market.”
Skyland Analytics’ products will continue to be known as Skyland PIMS for the immediate future and the company will be integrated into IDBS immediately.
1 IDBS Proprietary survey
Covington Associates served as exclusive financial adviser to Skyland Analytics, while Cooley LLP served as its legal adviser.
About Covington Associates
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising and strategic advisory to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991 and based in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed over 350 transactions globally for both private and publicly traded companies totaling over $20 billion. Further information can be found at http://www.covingtonassociates.com/overview/.
About Skyland Analytics
Based in Boulder, Colorado, Skyland Analytics was founded in 2015 with the mission to help life science companies streamline product and process data management by offering cloud-based software solutions that ensure 21 CFR Part 11-compliance, data visibility and integrity throughout the product lifecycle and supply chain.
Skyland PIMS serves as a centralized, persistent, and dynamic knowledge platform allowing for more efficient gathering, analysis, reporting, and sharing of critical manufacturing data. With PIMS™, teams will improve data integrity, remain compliant and make better, faster product and process decisions with confidence. For more information visit https://skylandanalytics.net/company/.
IDBS helps research and development (R&D) teams around the world make discoveries that have the potential to transform the lives of populations worldwide. IDBS PolarTM is the world’s first BioPharma Lifecycle Management (BPLM) system, a cloud-based platform designed to accelerate biopharmaceutical development by tackling the biggest challenges in process design, optimization, scale-up and technology transfer.
Our diverse customer list includes 22 of the top 25 global pharmaceutical companies, and other R&D-driven organizations in biotechnology, agricultural sciences, chemicals, consumer goods, energy, food and beverage, and healthcare serving over 50,000 researchers in 25 countries. For more information visit www.idbs.com.
SKYLAND ANALYTICS ACQUIRED BY IDBS, A DIVISION OF DANAHER