17 August 2021 | News
Highly complementary transactions will strengthen the company's ability to support bioanalytical services across all stages, development capabilities, and geographies
Photo Credit: BioAgilytix
BioAgilytix Labs, LLC, a leading global contract research laboratory focused on supporting its pharmaceutical and biotech partners in all stages of large molecule drug development, has signed a definitive agreement to purchase 360biolabs®, the most comprehensive contract research organization in Australia.
The transaction will expand BioAgilytix's global footprint into the jurisdiction of choice to commence first-in-human trials (FIH) and early-phase clinical trials and adds further capacity by joining 360biolabs' internationally recognized Quality systems (ISO/IEC 17025, ISO 15189, GLP, and GCLP) in Melbourne, Victoria with BioAgilytix's existing laboratories in Durham, North Carolina; Boston, Massachusetts; and Hamburg, Germany.
Located in Australia's biomedical and clinical research hub, 360biolabs offers world-class virology and immunology expertise, with BSL 2 and 3 laboratories, biomarker and immune monitoring capabilities with a state-of-the-art flow cytometry suite, molecular biology PCR suite, and expansive bioanalytical LC-MS/MS small molecule capabilities.
"This planned acquisition is part of our strategic growth strategy to expand our capacity, expertise, and agility to serve customers across all geographies, and we look forward to welcoming the 360biolabs team and integrating the business," said Jim Datin, President, and CEO of BioAgilytix.
360biolabs aims to build a global specialty laboratory, providing support to enable future medicines for human health with an international presence in the US and Europe to expand and support clinical development programs. The Burnet Institute, global medical research, and public health organization is a Co-founder and majority shareholder of 360biolabs.
The acquisition is subject to Australian Foreign Investment Review Board ("FIRB") requirements and, subject to receipt of FIRB approval, is expected to close in the third quarter of 2021. BioAgilytix selected White & Case as legal counsel to oversee the closing of the acquisition, with Lazard Australia and Allens representing 360biolabs.