GVK Biosciences acquires Aragen Bioscience

Business

oi-Roshni

By Roshni Agarwal

Published: Wednesday, January 29, 2014, 16:20 [IST]

GVK Biosciences Pvt. Ltd., a leading Hyderabad-based small molecule contract research organization (CRO), announced the acquisition of Aragen Bioscience Inc., a privately-held US-based pre-clinical CRO that specializes in high-value biologics. The financial consideration of the deal was not disclosed GVK Biosciences

The development marks the company's first acquisition in the overseas market. Commenting on the acquisition the company said"This deal enables GVK Biosciences to expand its service offering to a broader base of organizations and gives GVK Bio expertise in biologics services and a significant US presence".

Further, through the acquisition, GVK Biosciences' gains know-how in large molecule R&D services together with a wide array of high-content biologics services. The acquisition will also strengthen the position of GVK as the major company providing integrated R&D services across small as well as large molecule platforms.

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