Longitude Venture Partners II LP and NovaQuest Pharma Opportunities Fund III LP have purchased California Cryobank Inc. for an undisclosed amount.

California Cryobank, headquartered in Los Angeles, provides fertility and cellular therapy. The company provides frozen donor sperm and specialized reproductive services, as well as stem-cell services, including cord blood and cord-tissue banking.

Longitude is a private investment firm that focuses on health care companies. The firm has offices in Menlo Park, California and Greenwich, Connecticut. The firm's most recent fund closed with $385 million in 2012.

Raleigh, North Carolina-based NovaQuest is also an investment firm. NovaQuest focuses on investing in health care companies, and has invested more than $1 billion. The group is invested in Hospira, Pharmaxis and Revance Therapeutics.

Todd Morris, Andy Dixon and Andrew Hewlett of Harris Williams & Co. provided financial advice to California Cryobank on the deal.

For more on health care, see "5 Technologies Drive Health Care M&A."