BioAgilytix to Purchase Australia-based 360biolabs®
BioAgilytix Labs, LLC (BioAgilytix), is a leading global contract research laboratory focused on supporting its pharmaceutical and biotech partners in all stages of large molecule drug development. This month (August 2021), the company announced that it signed a definitive agreement to purchase 360biolabs® – the comprehensive contract research organization in Australia.
The transaction will expand BioAgilytix’s global footprint into a jurisdiction of choice to commence first-in-human trials (FIH) and early-phase clinical trials. It also adds further capacity by joining 360biolabs’ internationally recognised Quality systems (ISO/IEC 17025, ISO 15189, GLP and GCLP) in Melbourne, Victoria with BioAgilytix’s existing laboratories in Durham, North Carolina; Boston, Massachusetts; and Hamburg, Germany.
BioAgilytix is a leading bioanalytical testing laboratory specializing in large molecule bioanalysis. It provides PK, immunogenicity, biomarkers, and cell-based assay services supporting the development and release testing of biologics across a number of industries and disease states.
Located in Australia’s biomedical and clinical research hub, 360biolabs offers world-class virology and immunology expertise, with BSL 2 and 3 laboratories, biomarker and immune monitoring capabilities with a state-of-the-art flow cytometry suite, molecular biology PCR suite and expansive bioanalytical LC-MS/MS small molecule capabilities.
Jim Datin, President and CEO of BioAgilytix said,”this planned acquisition is part of our strategic growth strategy to expand our capacity, expertise and agility to serve customers across all geographies, and we look forward to welcoming the 360biolabs team and integrating the business. Joining forces makes sense for our two organizations, but most importantly for our combined clients and the patients they serve. BioAgilytix and 360biolabs are already culturally aligned in our focus on doing science right, on time, the first time. Together, we will not only create significant scientific synergies but also generate new innovations and help bring future life-changing therapeutics to patients more rapidly around the globe,” he added.
Angela Luttick, 360biolabs Cofounder and Executive Vice President, Business Development added “from the launch of 360biolabs in 2015, our strategic vision was to build a global speciality laboratory, providing support to enable future medicines for human health.” Alistair Draffan, 360biolabs Cofounder and CEO, advised “finding a like-minded partner, driven by a team-focused culture of excellence with an international reputation, US and European presence, will drive our strategic expansion and support our clients’ clinical development programs.”
“We’re excited to join forces with the BioAgilytix team, a company that shares our strong scientific track record and commitment to quality and service. Together, we have the capabilities and capacity to meet all challenges, especially in this time of pandemic, and create enduring opportunities for a brighter future,” added Melinda Pryor, Cofounder and Executive Vice President, Clinical for 360biolabs.
The Burnet Institute – a global medical research and public health organisation- is a Cofounder and majority shareholder of 360biolabs. Burnet Institute Director and CEO, Professor Brendan Crabb AC said, “Burnet Institute is proud of its involvement in the foundation of 360biolabs. It is the right time, with the growing need for high quality clinical trial support, for a company of the scale, capability, and reputation of 360biolabs to join with BioAgilytix and expand their capacity to service their customers and facilitate high quality translational medical research.”
The acquisition is subject to Australian Foreign Investment Review Board (“FIRB”) requirements and, subject to receipt of FIRB approval. It is expected to close in the third quarter of 2021.White & Case is appointed as legal counsel for BioAgilytix to oversee the closing of the acquisition, with Lazard Australia and Allens representing 360biolabs.
Source: Picture courtesy of BioAgilytix