BioAgilytix, a large molecule bioanalytical testing services, confirmed the agreement to be acquired by Cobepa S.A., a privately-held investment company.

With laboratory locations in North Carolina’s Research Triangle area and Hamburg, Germany, BioAgilytix provides PK, immunogenicity, biomarkers, and cell-based assay services supporting the development and release testing of biologics across a number of industries and disease states. BioAgilytix offers assay development, validation, and sample analysis under non-GLP, GLP, and GCP, as well as GMP quality control testing.

Riverside Partners, a Boston-based private equity firm, originally acquired BioAgilytix in 2013 and has built the company into a recognized global leader in large molecule bioanalysis.

Based in Brussels and New York, Cobepa is a privately-held investment company backed by European families. Cobepa manages a diversified portfolio of private equity investments valued at around €2.5 billion. The acquisition by Cobepa will provide BioAgilytix with increased funding and resources to meet growing demand for its high-quality services, driven by its strong scientific reputation and leading expertise in biologics development.

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“We have built a team with an excellent reputation for quality science and superior service, which has allowed us to expand our work with existing customers and grow our customer base significantly over the past several years,” said Jim Datin, President and CEO of BioAgilytix.

“Going forward, Cobepa will provide additional capital as well as access to their broad international network, which will empower us to continue serving our clients’ evolving and expanding bioanalytical needs. It will enable us to invest in further building out our talented team, expanding our advanced lab facilities in both the USA and Europe, and adding adjacent bioanalytical services that will benefit our customers,” Datin said.

“It has been extremely fulfilling to partner with BioAgilytix and help the company grow into the world-class organization it is today,” noted David Belluck, General Partner, Riverside Partners.

Commitment to success
“BioAgilytix’s success is a testament to the commitment of its management team and employees to solving their customers’ unique scientific challenges. We are proud to have supported the company by significantly growing the scientific organization, meaningfully expanding laboratory capacity, broadening the customer base, completing the acquisition of Hamburg-based IPM Biotech, and implementing best-in-class systems and processes,” Belluck further said.

“We recognize BioAgilytix as a leader in the specialty area of large molecule bioanalysis, and with our support, its team will be fully equipped to help global pharmaceutical and biotech sponsors bring more large molecule drugs to market, faster,” said Peter Connolly, Managing Director, Cobepa North America.

“We are pleased to partner with BioAgilytix in the next phase of its development, providing the resources necessary to extend its impressive track record, retain and add to its respected team, and solidify its position as the premier worldwide provider of large molecule bioanalytical testing services,”  Connolly confirmed.

Antibody-drug Conjugates
BioAgilytix’s scientific team has been supporting customers at the leading edge of antibody-drug conjugate development. Scientists at the company will apply their first-hand expertise to meet clients distinct project requirements. The company understands the complexity of ADCs and the development of assays required to measure free total drug conjugates and naked molecules for PK analysis and has supported numerous immunogenicity and PK studies for antibody drug conjugates.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close later this month.

Wells Fargo Securities, LLC is acting as lead financial advisor to BioAgilytix. Lincoln International, LLC is also serving as a financial advisor to the company. Choate Hall & Stewart LLP is serving as legal counsel to BioAgilytix.

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