EAG Inc., a scientific services company majority-owned by Odyssey Investment Partners LLC, announced an investment in ABC Laboratories. EAG acquired ABC, which provides biopharmaceutical analysis for drug companies, in July 2015.
EAG Inc. announced today a major investment in ABC Laboratories’ capacity and analytical capabilities to meet the pharmaceutical industry’s need for high-end biopharmaceutical analysis. The announcement is part of a 2016 multimillion-dollar capital investment in instrumentation, which comes in the wake of ABC’s acquisition by California-based EAG in July of last year.
“The pharmaceutical industry has a critical need for high-quality contract laboratory partners who can perform the complex analyses required to fully characterize a biopharmaceutical,” said EAG’s CEO, Siddhartha Kadia, Ph.D. “Since launching its biopharmaceutical offering in 2008, ABC had built a great reputation for its scientific excellence, but the company needed additional capital to strengthen its analytical toolbox.”
“Biotech drug development requires different analytical techniques than traditional ‘small molecule’ pharmaceuticals, and interpreting study results requires deep insight into the mechanisms of biopharmaceutical behavior,” said Prasad Raje, Ph.D., Senior Vice President of EAG’s Life Sciences division.
“Our biopharmaceutical scientists have built a reputation for solving complex analytical issues for our clients,” he added. “Having more advanced analytical equipment will enable them to get there faster, and simultaneously support a greater number of programs.”
With the FDA’s recent approval of the second biosimilar and the large number of biotech drugs that will lose patent protection in coming years, Raje says he expects demand for these services to escalate.
About ABC Laboratories
ABC Laboratories provides IND-enabling, registration and post-commercialization analytical support for the development, quality control and life cycle management of innovative therapies and generic medicines. The company’s personalized, results-based approach to development strategy is backed by decades of experience delivering GLP- and CGMP-compliant analytical testing services across all types of active pharmaceutical ingredients and formulations. Through development know-how, cross-disciplinary technical expertise, and applied experience with evolving global regulatory frameworks, ABC helps efficiently manage programs for large- and small-molecule drugs, medical devices and combination products.
EAG Inc. is a global scientific services company serving clients across a vast array of technology-related industries. Through multidisciplinary expertise in the life, materials and engineering sciences, EAG helps companies innovate and improve products, ensure quality and safety, protect intellectual property and comply with evolving global regulations. EAG employs 1,200+ employees in seven countries, across 20 laboratories serving more than 7,000 clients worldwide.
EAG is majority-owned by Odyssey Investment Partners LLC, a leading private equity firm with more than $3.5 billion in capital under management. Odyssey makes majority, control investments primarily in established middle-market industrial manufacturing and business services companies in a variety of industries. Further information regarding Odyssey Investment Partners can be found at www.odysseyinvestment.com.
For additional information, visit www.abclabs.com.