Riverside Partners portfolio company BioAgilytix, a provider of contract bioanalytical testing services, acquired IPM Biotech, a German bioanalytical contract research laboratory. Financial terms of the deal were not disclosed.
BOSTON, March 17, 2016 /PRNewswire/ — BioAgilytix, a leading provider of contract bioanalytical testing services specializing in large molecule bioanalysis, has announced the acquisition of IPM Biotech, a German-based bioanalytical contract research laboratory renowned for its expertise in large molecule bioanalysis, particularly in the area of immunogenicity.
The transaction not only expands BioAgilytix’s aglobal footprint, with IPM’s newly planned GLP and GMP laboratory facility, but also brings on board IPM’s rich immunogenicity, pharmacokinetics (PK), and pharmacodynamics (PD) expertise to complement BioAgilytix’s world-class capabilities in biomarkers, cell-based assays, and immunogenicity & pharmacokinetics.
Each company has experienced attractive organic growth through a strong commitment to scientific quality and attentive customer service. Together, they will offer this same rigor of science and service to customers across continents, with expanded capabilities to support all phases of large molecule global studies.
“The 20+ years of experience IPM brings in assay development and validation work for immunogenicity, PK, and PD is a perfect complement to BioAgilytix’s best-of-breed large molecule bioanalytical capabilities,” said Dr. Arno Kromminga, the founder of IPM. “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.”
“Our team is excited to have significantly enhanced our service offering and geographical coverage for our global client base by partnering with IPM Biotech, ” said Jim Datin, Chief Executive Officer of BioAgilytix.
David Belluck, General Partner at Riverside Partners said, “Riverside is thrilled to support the IPM acquisition. The team at BioAgylitix 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.”
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.
About BioAgylitix Labs
BioAgilytix Labs is a specialized bioanalytical testing laboratory focused on large molecule bioanalysis for the pharmaceutical, biotechnology and agriculture industries. BioAgilytix Lab’s mission is to provide outsourced analysis of biological samples that supports the work of companies seeking regulatory approval of their biopharmaceutical and agricultural products. For more information about BioAgilytix Labs, please visitwww.bioagilytix.com.