DURHAM – Fast-growing BioAgilytix, a provider of testing and bioanalysis services for life science firms, is expanding its footprint with the acquisition of Massachusetts-based Cambridge Biomedical.
The deal grows the BioAgilytix to some 400 people and adds another industry certified testing facility.
Financial terms were not disclosed.
BioAgilytix, which was acquired by a Belguim-based investment firm in 2018, has made the Inc 5000 list for fastest growing U.S. private companies six different times, including the 2019 list. Revenues grew to $57 million, up more than 200 percent, according to the 2019 list.
“We’re proud to have Cambridge Biomedical join BioAgilytix in our collective mission to serve customers’ evolving and expanding bioanalytical needs,” said Jim Datin, CEO of BioAgilytix, in a statement.
“Our companies have many synergies, both exclusively focused in large molecules and today supporting development of some of the most innovative and complex biologics, including cell and gene therapeutics. We also share the same commitment to quality and service, which has allowed both companies to build a strong scientific track record and impressive customer base.
“Together we will be able to offer the same premier scientific solutions and quality results, but on a larger scale. Our customers will now have access to additional scientific resources and platforms in the Cambridge area of Massachusetts, which is a hotbed of biotech innovation, and Cambridge Biomedical’s customers will be able to leverage BioAgilytix’s premier labs in the Research Triangle area of North Carolina and in Hamburg, Germany to seamlessly support large and global studies.”
The company says the acquisition expands its team of scientsts, researchers and employees with experience in biomarkers, immunogenicity, cell-based assays, and pharmacokinetics
“As we were considering the best way to enable Cambridge Biomedical to continue on its strong growth trajectory, it became clear that we wanted a partner – one as committed to upholding our high scientific standards and ‘people first’ values,” said Barbara Osband, founder and Chief Executive Officer of Cambridge Biomedical. “Having personally spent more than 18 years building our business and creating a culture that recognizes being in the health care industry mandates a special level of competence, caring, and integrity, I was thrilled to merge with BioAgilytix whose value systems mirror our own. I couldn’t be more confident placing Cambridge Biomedical in the capable hands of BioAgilytix’s leadership team.”
Belgian investment company acquires Durham biotesting firm BioAgilytix
