Contract research firm GVK Biosciences Pvt Ltd, which operates under the GVK BIO brand, has signed an agreement to acquire Aragen Bioscience, a US-based privately held pre-clinical CRO specialising in biologics services, for an undisclosed amount, according to a press release.
Aragen Bioscience provides a diverse set of services for the discovery, characterisation, activity assessment and early development of biologic and diagnostic products with offices and laboratories in San Francisco area.
The deal would provide the Hyderabad-based company expertise in large molecule R&D services and biologics services with significant presence in the US market, along with enabling it to augment its service offering to a broader base of organisations.
GVK BIO specialises in small molecule CRO services and this deal would add to its capabilities. This is GVK Biosciences' first overseas acquisition.
"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,” GVK Bio’s chairman D S Brar said on Wednesday.
GVK BIO offers a broad spectrum of integrated services, across the R&D and manufacturing value chain with 2,400 employees and global customer base of more than 300.
GVK BIO is a partnership between the GVK Group and D S Brar, former chief of Ranbaxy who led the pharma giant through its big growth and overseas expansion phase before quitting the firm to join GVK BIO as its promoter chairman in 2004.
GVK Group is one of India’s largest infrastructure developers, with wide experience and expertise spanning areas such as energy, resources, airports, transportation, hospitality and lifesciences.