Stout has advised Prolytix (“Prolytix” or the “Company”), a portfolio company of Edgewater Capital Partners (“Edgewater”), to VION Biosciences (“VION”), a portfolio company of Iron Path Capital (“Iron Path”). Stout served as exclusive sell-side financial advisor to Prolytix and Edgewater in connection with the transaction, which closed in September 2026.

Founded in 1987 as Haematologic Technologies, Prolytix is a bioanalytical contract research organization providing complex coagulation testing, good manufacturing practice release and stability testing, method development and validation, and research reagents and custom collection devices to biopharmaceutical and biotech customers. The Company is headquartered in Essex Junction, Vermont, and rebranded to Prolytix in 2022 to reflect its broader protein chemistry and analytics capabilities. Prolytix has been a portfolio company of Edgewater since 2019.

Edgewater is a Cleveland, Ohio-based, sector-focused private equity firm that invests in lower middle-market performance materials and services businesses across specialty industrials, life science, advanced materials, and specialty chemicals.

VION is a life science tools and services company that brings capabilities across research, diagnostics, and drug development together on a single platform. VION manufactures materials, assays, kits, and reagents, and pairs them with specialized services used in discovery, translational and clinical research, therapeutic development, and STEM education.

Iron Path is a Nashville, Tennessee-based private equity firm focused on building businesses in the healthcare and specialty industrials sectors.

Tony Crisman, Managing Director and Head of Healthcare Investment Banking at Stout, said, “It was a pleasure supporting Edgewater through a sale process that resulted in an optimal outcome with VION that ensures a bright future for Prolytix.”