Phibro is excited to announce the acquisition of all remaining outstanding shares of Target Point-Technologies Ltd., the Israel-based start-up company that formed the basis for Phibro’s pHi-Tech automated vaccine division.
Founded in 2016, Target Point brought together a team of ambitious innovators driven by the goal of revolutionizing the way vaccines are administered on farms around the world. In 2018, Target Point and Phibro reached an agreement on a long-term development and distribution agreement that saw Phibro make a minority investment in Target Point and the two firms have been working in intensive partnership ever since.
Effective April 2021, the Target Point business and all team members will become a part of Phibro’s pHi-Tech division, forming an industry-leading team with the in-house capability of taking new vaccination device concepts from ideation through manufacturing, sale and support.
Assaf Shafran, VP and General Manager of pHi-Tech at Phibro: "I am extremely excited about the opportunities created by this acquisition. Combining the engineering talent, deep development experience and innovative spirit of the Target Point team with Phibro/pHi-Tech’s ’s global market position in the Animal Health space will not only strengthen our current pHi-Tech offerings but also super-charge our ability to dream even bigger about our pipeline”.
Gershon Goldenberg, co-founder of Target Point: "When we started off a few years ago, I always envisioned this day. I want to thank Phibro for recognizing this potential and I speak for the whole Target Point team when I say we are very excited about starting the next chapter of this story."