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ReSolve has announced the sale of the business and assets of Safeguard Biosystems Holdings Limited to Safeguard DX Limited.
The assets sold include substantial intellectual property and the shares of certain overseas trading subsidiaries.
ReSolve was formally engaged by the company in early August 2024 and commenced an accelerated M&A process.
ReSolve partners Lee Manning and Simon Jagger were appointed as joint administrators on 17 October 2022 and thereafter the sale completed on 22 October 2024, with the company’s employees transferring under TUPE, and the operations of the subsidiaries able to continue.
Safeguard Biosystems is a US-based medical testing start-up that seeks to remove the ‘culture’ step in sepsis diagnostics through leveraging molecular diagnostics and DNA sequencing, to increase the speed and accuracy of testing for this life-threatening condition.
The company’s core product offering can reduce time and cost of care in this area by up to 93% when compared to legacy treatment options. Safeguard Biosystems is patent-protected across all aspects of its technology, with 39 patents globally and 92 more pending across four patent families.
The company was still developing its products and was unable to access further funding with its current capital structure, leading to a need for rescue capital or a sale of the business or assets to continue such development.
Manning, partner at ReSolve and joint administrator, said: “We are delighted to have secured the asset sale for Safeguard Biosystems, ensuring that the Company’s revolutionary intellectual property is protected and will hopefully, in time, reach full scale commercial success. We wish the purchaser and the employees all the best for the future.”
