Agilent Technologies has announced a definitive agreement for the acquisition of Canadian contract development and manufacturing organisation (CDMO) BIOVECTRA in a $925 deal.
BIOVECTRA focuses on manufacturing biologics, highly potent active pharmaceutical ingredients (APIs) and other targeted therapeutic molecules.
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The company’s addition to Agilent’s portfolio will enhance its service offerings, particularly in sterile fill-finish services, plasmid DNA, messenger ribonucleic acid capabilities and lipid nanoparticle formulation.
The acquisition will also aid in bolstering expertise in rapidly growing segments such as antibody-drug conjugates, highly potent APIs and glucogen-like peptide-1.
The combined expertise of both companies in biologics and gene-editing technologies will offer customers comprehensive solutions for gene therapy.
Both BIOVECTRA and Agilent have advanced facilities adhering to current good manufacturing practices.
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By GlobalDataBIOVECTRA, which serves biotech and pharmaceutical clients in North America and Europe, reported $113m in revenue in 2023 and anticipates double-digit growth in 2024.
Agilent plans to fund the transaction through a combination of cash and debt financing.
Subject to customary closing conditions and regulatory approvals, the deal will conclude before 2025.
BIOVECTRA will be integrated into the Agilent Diagnostics and Genomics Group.
Agilent president and CEO Padraig McDonnell stated: “We look forward to welcoming BIOVECTRA to Agilent. The company has an outstanding record of innovation, and its employees share our commitment to providing integrated biopharma solutions that continuously deliver more value to customers.
“Plus, BIOVECTRA’s manufacturing capabilities further expand Agilent’s end-to-end biopharma offerings into new growth vectors, including workflows that seamlessly integrate analytical instrumentation, consumables and a wide range of lab services.”
