GVK BIO and Aragen Bioscience Sign Definitive Agreement to Acquire Aragen Bioscience, Inc.
January 29, 2014 - Hyderabad, Andhra Pradesh, India And Morgan Hill, United States
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, announce 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&D services to the industry from a seamless integrated platform”, said Mr. D. S. 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 & CEO, Aragen Bioscience.
This is GVK BIO’s first international acquisition; the financial details were not disclosed.
About GVK BIO
GVK Biosciences (GVK BIO) is Asia’s leading Discovery Research and Development organizations. 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. For more information log on to www.gvkbio.com
About Aragen Bioscience, Inc.
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. More information on Aragen Bioscience can be found at www.aragenbio.com
Source: Business Wire India