Agilent Technologies on Monday announced the acquisition of contract drug manufacturing company Biovectra for $925m to expand its offerings to biotech companies and medical researchers.
The company, which provides instruments, software services and consumables for laboratories, has acquired Canada-based Biovectra, which focuses on the manufacture of biologics, highly potent active pharmaceutical ingredients and other targeted therapeutic molecules.
In particular, the company is active in fast-growing areas such as antibody-drug conjugates and GLP-1 weight-loss drugs, which have gained much traction in the industry this year.
The new partners hope that Biovectra’s capabilities in biologics, combined with Agilent’s expertise in gRNA, will allow them to offer customers a single source for gene-editing technology. Biovectra will be integrated into Agilent’s diagnostics and genomics business.
Commenting on the acquisition, Padraig McDonnell, Agilent President and CEO, said: “We are excited to welcome Biovectra to Agilent. The company has an outstanding track record of innovation and its employees share our commitment to providing integrated biopharma solutions that continually deliver more value to our customers.” The deal is set to conclude before 2025.
