BioAgilytix, a provider of contract bioanalytical testing services and a portfolio company of Riverside Partners, has acquired IPM Biotech, a German-based bioanalytical contract research laboratory. BioAgilytix and IPM Biotech both specialize in large molecule bioanalysis.
BioAgilytix’s outsourced analysis of biological samples are used by pharmaceutical, biotechnology and agriculture companies seeking regulatory approval of their biopharmaceutical and agricultural products. BioAgilytix is best known for its work in biomarkers, cell-based assays, immunogenicity (the ability of substance to provoke an immune response) and pharmacokinetics (what the body does to a drug as it moves into, through and out of the body). The company is led by its CEO Jim Datin and is headquartered in Durham, NC (www.bioagilytix.com).
This transaction expands BioAgilytix’s geographic reach – IPM Biotech (www.ipm-biotech.de) is based in Hamburg, Germany – and expands its service offerings in immunogenicity, pharmacokinetics, and pharmacodynamics (the relationship between drug concentration and effect). IPM Biotech was founded by Dr. Arno Kromminga.
“The 20 plus years of experience IPM brings in assay development and validation work for immunogenicity, pharmacokinetics, and pharmacodynamics is a perfect complement to BioAgilytix’s best-of-breed large molecule bioanalytical capabilities,” said Dr. Kromminga. “As a merged company we will truly be an advanced contract research laboratory, capable of supporting global studies for any type of large molecule need.”
“Riverside is thrilled to support the IPM acquisition. The team at BioAgilytix has been investing in world class scientists, new facilities along with leading platforms and will now be well-equipped to support significant growth in Europe,” said David Belluck, General Partner at Riverside Partners.
Riverside Partners invests in middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDA’s from $5 million to $25 million. The firm is currently investing its fifth fund, Riverside Partners Fund V, LP, with $561 million of capital commitments. Riverside Partners was founded in 1989 and is based in Boston (www.riversidepartners.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-21-16
