Agilent to acquire BIOVECTRA for $925m
Betsy Goodfellow | July 24, 2024 | News story | Business Services | Agilent, CMDO, Pharmacy, acquisition
Agilent Technologies has announced that it has signed a definitive agreement to acquire BIOVECTRA, a leading specialised contract development and manufacturing organisation (CDMO) for $925m.
BIOVECTRA is based in Canada and has a focus on the production of biologics, active pharmaceutical ingredients and other molecules for targeted therapeutics. Its acquisition by Agilent is intended to build on the company’s CDMO specialisation in oligonucleotides and CRISPR therapeutics in three areas:
- The expansion of its portfolio of services – BIOVECTRA is able to provide sterile fill-finish services, pDNA and mRNA capabilities, as well as lipid nanoparticle (LNP) formulation
- Adding rapidly growing modalities with BIOVECTRA’s expertise in fast-growing segments, such as antibody drug conjugates (ADCs), highly potent active pharmaceutical ingredients (HPAPIs) and GLP-1
- Bringing world-class capabilities in order to support gene editing, combining the two companies’ expertise to provide customers with a united source of gene-editing technology.
The deal is subject to customary closing conditions, and is expected to close before 2025.
Padraig McDonnell, president and chief executive officer at Agilent, commented: “We look forward to welcoming BIOVECTRA to Agilent. The company has an outstanding record of innovation, and its employees share our commitment to providing integrated biopharma solutions that continuously deliver more value to customers. Plus, BIOVECTRA’s manufacturing capabilities further expand Agilent’s end-to-end biopharma offerings into new growth vectors, including workflows that seamlessly integrate analytical instrumentation, consumables, and a wide range of lab services.”
Betsy Goodfellow
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