Asia’s leading small-molecule contract research organization (CRO), GVK BIO and Aragen Bioscience, Inc., a privately held US based, pre-clinical CRO specializing in high-value biologics services, have entered into an agreement to acquire the capital stock of Aragen Bioscience. GVK BIO has established itself as a pre-eminent small molecule service provider. This is GVK BIO’s first international acquisition; the financial details were not disclosed.
This deal enables GVK BIO to expand its service offering to a broader base of organizations and gives GVK BIO expertise in biologics services and a significant US presence. The acquisition provides Aragen with the ability to expand its service offerings, access to GVK BIO’s global sales force and access to new markets.
The acquisition of Aragen Bioscience provides GVK BIO with world-class expertise in large molecule R&D services and a unique and extensive set of high-content biological services. Combined with GVK BIO’s established small molecule discovery and development capabilities, this expansion uniquely position GVK BIO as a leading provider of integrated R&D services across both large and small molecule platforms and provides a base for further expansion.
D S Brar, chairman, GVK BIO, said,“As an increasing number of biotech and pharmaceutical companies focus on protein based therapeutics and biosimilars, the acquisition of Aragen Bioscience will strategically enhance GVK BIO’s ability to offer high quality R&D services to the industry from a seamless integrated platform.”
“Aragen’s scientific excellence and expertise in large-molecule R&D services combined with GVK BIO’s scale, resources, and global reach will create significant synergies for both companies” stated Rick Srigley, president & CEO, Aragen Bioscience.
GVK BIO provides a broad spectrum of integrated services, across the R&D and manufacturing value chain with a focus on speed and quality. GVK BIO capabilities include discovery research, discovery services, clinical development, contract manufacturing, formulations and informatics. GVK BIO’s 2400 employees serve a diverse and global customer base of more than 300 satisfied customers.
Aragen Bioscience, Inc. is a privately held contract research organization with offices and laboratories in the San Francisco Bay Area. Aragen Bioscience offers a diverse set of services for the discovery, characterization, activity assessment and early development of biologic and diagnostic products.
Source : PharmaBiz