BioAgilytix, a leading global contract research organization (CRO), 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.
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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.”