BioAgilytix Secures Significant New Investment from Global Investor Cinven to Fuel Continued Long-Term Growth
PR93108
DURHAM, N.C. and BRUSSELS, Belgium and LONDON, Nov. 17, 2021 /PRNewswire=KYODO JBN/ --
-- Investment Will Provide BioAgilytix with Additional Resources to Invest
in Core Business and Drive Growth
BioAgilytix, a leading global contract research organization (CRO), today
announced an agreement to be further capitalized by Cinven, a leading
international private investment firm focused on building world-class global
companies. Cinven will acquire a majority stake in BioAgilytix while current
majority investor Cobepa, S.A., a Brussels-based private investment firm, will
remain a significant minority investor in the Company.
Logo - https://mma.prnewswire.com/media/1690414/BioAgilytix_Cinven_Logo.jpg
Cobepa and GHO Capital, a leading specialist investor in global healthcare,
acquired BioAgilytix in November of 2018 and have built the company into a
recognized global leader in the contract research organization market with a
focus on large molecule bioanalytical testing. The investment by Cinven will
provide BioAgilytix with increased funding and resources to meet the growing
demand for its high-quality bioanalytical services, driven by its strong
scientific reputation and leading expertise in supporting the development and
commercialization of novel therapeutics.
"Our focus on providing customers with industry leading scientific expertise
coupled with superior service across the pharmaceutical development pathway has
been our formula for success," said Jim Datin, President and CEO of
BioAgilytix. "As we move into our next chapter of our evolution, Cinven will
provide the additional resources that will empower us to expand not only our
geographical reach but will also enable us to invest further in our talent and
facilities around the globe to meet the ever-growing needs of our customers."
Peter Connolly, Managing Director and Head of North America of Cobepa said, "We
are excited to continue working with Jim and the entire BioAgilytix management
team and are thrilled to welcome Cinven as a new investor in the Company. The
success of BioAgilytix is driven by its unwavering focus on both high-quality
science and a customer-first orientation. These are exactly the hallmarks we
seek in our investments. We look forward to partnering with Cinven and
management for the next chapter of the Company's growth."
Mike Mortimer, Managing Partner at GHO Capital said, "BioAgilytix is now a
leading innovator among the global CROs. Throughout our partnership, Jim and
his team have had a phenomenal impact to drive international growth, invest
significantly in operational capacity and expand the platform's capabilities to
provide more and better solutions to customers. With a science and quality led,
customer-centric approach, we have every confidence they will continue to
deliver breakthrough solutions to global biopharma, supporting the safe &
effective discovery and development of new biologic drugs to improve patient
outcomes for years to come."
Alex Leslie, Partner, Healthcare and Head of US said, "Cinven is delighted to
be making this investment into BioAgilytix. The organization has genuine
expertise and differentiated capabilities in the attractive bioanalytical
testing market, providing excellent service to numerous pharma and biotech
customers. Cinven plans to support the highly skilled management and scientific
leadership teams to invest in capacity and capabilities to capture the
compelling growth opportunity in the market, ultimately supporting the delivery
of new therapies for patients globally. We look forward to working with the
entire BioAgilytix team to help them to realise the full potential in the
business."
BofA Securities served as lead financial advisor to BioAgilytix, and William
Blair and Lazard served as co-advisors. White & Case served as legal advisor
and Deloitte LLP as accounting and tax advisor to BioAgilytix. Ropes & Gray
acted as legal advisor to GHO with Deloitte LLP serving as tax advisor.
The transaction is expected to close after customary closing conditions and
regulatory approvals.
About BioAgilytix
BioAgilytix is a leading global contract research organization focused on
supporting pharmaceutical and biotech partners in all phases of drug
development. With laboratory locations in North Carolina's Research Triangle
Park; Cambridge, Massachusetts; San Diego, California; Melbourne and Brisbane,
Australia and Hamburg, Germany, BioAgilytix provides PK, immunogenicity,
biomarkers, and cell-based assay services supporting the development and
release testing of therapeutics across a number of industries and disease
states.
BioAgilytix offers assay development, validation, and sample analysis under
non-GLP, GLP, and GCP, as well as GMP quality control testing (i.e., product
release testing, stability testing, etc.) BioAgilytix also offers diagnostic
testing services at its CLIA-certified, CAP-accredited Boston laboratory.
BioAgilytix's team of highly experienced scientific and QA professionals
ensures high-quality science, data integrity and regulatory compliance through
all phases of clinical development. BioAgilytix is a trusted partner to many
top global pharmaceutical and biotech companies. For more information, visit
www.bioagilytix.com.
About Cinven
Cinven is a leading international private equity firm focused on building
world-class global companies. Its funds invest in six key sectors: Business
Services, Consumer, Financial Services, Healthcare, Industrials and Technology,
Media and Telecommunications (TMT). Cinven has offices in London, Frankfurt,
Paris, Milan, Madrid, New York, Guernsey and Luxembourg.
Cinven takes a responsible approach towards its portfolio companies, their
employees, suppliers, local communities, the environment and society.
Cinven Capital Management (V) General Partner Limited, Cinven Capital
Management (VI) General Partner Limited, Cinven Capital Management (VII)
General Partner Limited and Cinven Capital Management (SFF) General Partner
Limited are each authorised and regulated by the Guernsey Financial Services
Commission, and Cinven Limited, the adviser to the Cinven Funds, is authorised
and regulated by the Financial Conduct Authority.
In this press release 'Cinven' means, depending on the context, any of or
collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, Cinven
(LuxCo1) S. a.r.l., and their respective Associates (as defined in the
Companies Act 2006) and/or funds managed or advised by any of the foregoing.
For additional information on Cinven please visit www.cinven.com and
www.linkedin.com/company/cinven/.
About Cobepa
Based in Brussels, New York, and Munich, Cobepa is a privately-held investment
company backed by European families. Cobepa manages a diversified portfolio of
private equity investments valued at approximately $4 billion. Cobepa invests
in leading companies with superior business models, sustainable market
positions and leading management teams. Cobepa North America is primarily
focused on investments in the healthcare, business services, and tech-enabled
services sectors as well as situations which might benefit from a nimble
investment partner. For more information, visit www.cobepa.com.
About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading
specialist healthcare investment advisor based in London. We apply global
capabilities and perspectives to unlock high growth healthcare opportunities,
targeting Pan-European and transatlantic internationalization to build market
leading businesses of strategic global value. Our proven investment track
record reflects the unrivalled depth of our industry expertise and network. We
partner with strong management teams to generate long-term sustainable value,
improving the efficiency of healthcare delivery to enable better, faster, more
accessible healthcare. For further information, please visit www.ghocapital.com
Media Contact:
Mark Bethers
BioAgilytix
919-381-6097
mark.bethers@bioagilytix.com
Source - BioAgilytix
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