Small-molecule contract research organisation (CRO), GVK BIO, and US-based Aragen Bioscience, pre-clinical CRO specialising in high-value biologics services, have signed an agreement through which GVK BIO will acquire the capital stock of Aragen Bioscience. This deal enables GVK BIO to expand its service offering to a broader base of organisations 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.
“As an increasing number of biotech and pharmaceutical companies focus on protein-based therapeutics and bio-similars, 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,” said DS Brar, Chairman, GVK BIO.
“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 and Chief Executive Officer, Aragen Bioscience.
This is GVK BIO’s first international acquisition. The financial details were not disclosed.
EP News Bureau– Mumbai