Doctor buys PolatityTE spinoff

Logan-based PolarityTE, a biotechnology company that designs and commercializes regenerative tissue products and biomaterials for the biomedical industry, has spun off its preclinical research division, IBEX Preclinical Research Inc., and sold it to Dr. Josh Packer. Packer is a doctor of veterinarian medicine from Minneapolis, where he was the lead preclinical surgeon for Medtronic PRL.{mprestriction ids="1,3"}

The new company provides preclinical surgical and toxicological studies in a variety of laboratory animal species. It provides in-vivo research services ranging from relatively simple single-dose pharmacokinetic studies to more complex projects requiring surgical instrumentation. The company supports life science, medical device companies and researchers that specialize in orthopedics, neurosurgical, soft tissue surgery, ophthalmology and non-surgical processes assisting clients in bringing products to market.

Founded in 2003 by Dr. Michael Larson, IBEX operated as part of the PolarityTE network since 2018 until the acquisition in April. According to Packer, the acquisition allows leadership to play a more personal role in preclinical research and procedures, enabling even greater client care and support.

“Since its inception, IBEX has built and maintained a team of highly skilled veterinary surgeons, clinical consultants, and pre-clinical scientists who excel in supporting the research needs of life science companies that aim to advance surgical and non-surgical care and outcomes across a variety of healthcare categories,” said. Packer. “I am thrilled to announce that we will be maintaining and building on the trusted surgical expertise and reputation that IBEX has earned as we advance the business and further expand the team.”

Packer and a group of minority investors purchased IBEX for $3.2 million in a deal that closed April 25. In order to serve the evolving needs of clients with even broader capabilities, IBEX recently completed a second expansion of its state-of-the-art facility in Cache Valley. The latest construction brings the facility to over 12,000 square feet, including updates to an operating room, sterile preparation areas, expanded vivariums with additional housing for a range of small and large animals and enhanced 3D imaging capabilities.

IBEX employs 14 clinical research professionals and will soon be hiring additional veterinarians, technicians, preclinical surgeons and a preclinical scientist study director, Packer said.{/mprestriction}