BumbleBee Inc. is acquiring BioMed Venture, a Boston startup, for $20 million, the company said in a statement Thursday.
BioMed Ventures was founded by Mark Halsey, CEO of Boston BioBio, a biotech company focused on developing a new type of nanoparticle called a bio-ink for use in the treatment of disease.
BioMedic Venture’s BioBread nanoparticles are designed to bind to the surface of human cells to produce bio-insulators and provide the cells with a therapeutic advantage over normal cells.
The BioBram nanoparticles could potentially replace standard drugs and be used to treat multiple sclerosis, cancer and other diseases, according to the statement.
BioBrumps have already been tested in animal models and are in clinical trials for treating multiple sclerosis and treating inflammatory bowel disease, the statement said.
BioMinerals Inc. will also acquire BioMed’s medical data management software and analytics technology, the release said.
Bumblebee was founded in 2014 by Dr. Scott Tuck, an internationally recognized leader in bioscience research.
It is an independent company that offers a wide range of clinical, industrial and healthcare solutions.
It has raised more than $3.5 billion in venture capital since its founding.
BioMarin, the Boston-based startup, has a product pipeline of more than 100,000 drugs and devices and has been developed in collaboration with other companies including Roche Inc. and Abbott Laboratories Inc. BioBio Ventures was created in 2015 by former Boston University graduate students Dr. Matthew M. Shultz and Dr. David P. Rast.
The pair launched the company in December 2014 to develop and commercialize bio-nanoparticles and to bring to market bio-technology solutions for a variety of medical and consumer-oriented applications.
BioMD Venture was founded as a spinoff from Bumblebees research team and was spun off in 2015.
BioMeric is a company focused primarily on developing, testing and commercializing novel drugs, biomaterials and bio-materials for clinical and industrial use.
BioMED Venture is also working on developing and commercialization of new technologies for medical and industrial applications.
For more on BioMed, visit biomed.com.