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Old biotech entrepreneurs never die, they just fade away to launch new startups.
Richard Schumacher, who launched Boston Biomedica Inc. in 1986, recently presided over the sale of the company to SeraCare Life Sciences Inc. in Oceanside, Calif.
Schumacher won't be joining the new executive team at SeraCare. He said he is starting a new company called Pressure BioSciences Inc., which will be built out of intellectual property that was not sold to SeraCare.
SeraCare purchased most of the assets of Boston Biomedica for $30 million.
Boston Biomedica, based in West Bridgewater, provided products and services for the detection and monitoring of infectious diseases such as AIDS and viral hepatitis.
SeraCare is a manufacturer and provider of biological products and services including plasma-based therapeutic products, diagnostic productions and reagents, and specialty plasmas.
Michael Crowley, CEO of SeraCare, said that his company bought Boston Biomedica as part of a strategy to expand its line.
"This transaction supports our goal to become a more comprehensive provider of biological materials and services to...