GVK BIO acquires Aragen Bioscience
Posted on Jan 29 2014 | IBNS
Kolkata/Hyderabad, Jan 29 : 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 announced an agreement through which GVK BIO will acquire the capital stock of Aragen Bioscience.
GVK BIO has established itself as a pre-eminent small molecule service provider.
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.
"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 and D services to the industry from a seamless integrated platform," said D. S. Brar, Chairman, GVK BIO.
"Aragen's scientific excellence and expertise in large-molecule R and D services combined with GVK BIO's scale, resources, and global reach will create significant synergies for both companies," stated Rick Srigley, President and CEO, Aragen Bioscience.
This is GVK BIO's first international acquisition.