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GVK Biosciences Acquires Pre Clinical CRO Aragen

January 30, 2014

Making its first overseas acquisition, Hyderabad based GVK Biosciences has acquired pre clinical CRO, Aragen Biosciences Inc for an undisclosed amount.The buy enhances and expand its offering to a broader base of organizations providing expertise in biologics services apart from giving it a prominent presence in US. For Aragen it will provide access to GVK Bio's global sales-force and access to new markets.As per the deal GVK would be acquiring the the capital stock of the privately held company. Founded in 1993 Aragen Bioscience, Inc. is a contract research organization with offices and laboratories in the San Francisco Bay Area. Aragen Bioscience offering services like the discovery, characterization, activity assessment and early development of biologic and diagnostic products.With over 2000 scientists, support and analytical staff GVK Biosciences is a contract research organization providing services like collaborative research, discovery services, clinical development, contract manufacturing, formulations and informatics.In 2011 the company was said to acquire Spectrum Biosciences based in Frostburg, Maryland (US). However the deal did not consummate.Recently in this space, Sequoia backed Celon Laboratories had entered into a 40:60 JV with Aurobindo Pharma to develop, manufacture and market niche oncology and hormonal generic formulations; Tata Capital Innovations Fund along with existing investors India Innovation Fund and Accel Partners, had invested about R40 Cr in Mitra Biotech.

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Source: DealCurry (India)

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