Asia’s leading small-molecule CRO GVK BIO will acquire the capital stock of US-based CRO Aragen Bioscience.
The deal for Aragen Bioscience, a privately held, pre-clinical CRO specializing in high-value biologics services, 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.
"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,” said Mr. D. S. Brar, Chairman, GVK BIO.
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.
This latest push into the US follows the company’s move to grant the US FDA access to its clinical biomarker database to further track drug-induced toxicity.
"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,” Rick Srigley, President and CEO of Aragen Bioscience, said.
This is GVK BIO’s first international acquisition and the financial details were not disclosed.