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GVK Bio to acquire US biologics company

Source : Times Of India
Feb 3, 2014


 MUMBAI: GVK BIO, a contract research company and US-based Aragen Bioscience, Inc specializing in high-value biologics services, has announced signing of an agreement under which the domestic company will acquire the capital stock of Aragen.

 

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 it 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.

This is GVK BIO's first international acquisition. Financial details of the deal were not disclosed.

"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 DS 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.


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