Hyderabad, Jan 29 (IANS): GVK BIO, a leading small-molecule contract research organization (CRO), has announced acquisition of US-based Aragen Bioscience, Inc., a pre-clinical CRO specialising in high-value biologics services.
The Hyderabad-based company Wednesday said it entered into an agreement to acquire the capital stock of Aragen Biosciences. It, however, has not disclosed financial details of its first overseas acquisition.
This acquisition provides GVK with world-class expertise in large molecule research and development services and high-content biological services, the company said in a statement.
Combined with GVK BIO's established small molecule discovery and development capabilities, this expansion uniquely position GVK BIO as a leading provider of integrated research and development (R&D) services across both large and small molecule platforms and provides a base for further expansion.
"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 chairman D. S. Brar said.
"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.