US-based Agilent Technologies has agreed to acquire Biovectra, a specialised contract development and manufacturing organisation (CDMO) based in Canada, for $925m.
Biovectra manufactures biologics, pharmaceutical ingredients, and other molecules for targeted therapeutics, from early-stage clinical development to large-scale commercial manufacturing.
It currently serves biotech and pharmaceutical companies in North America and Europe.
The Canadian company delivered $113m in revenue during 2023 and expects double-digit revenue growth in 2024.
The transaction is expected to be completed before 2025, subject to customary closing conditions, including receipt of regulatory approvals.
Upon closing, Biovectra will become part of the Agilent Diagnostics and Genomics Group.
Agilent intends to fund the transaction using a combination of cash on hand and debt financing.
Agilent president and CEO Padraig McDonnell said: “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.”
Biovectra and Agilent, both are fully integrated CDMOs with cGMP facilities in the manufacturing, processing, and packaging of active pharmaceutical ingredients.
The acquisition builds on Agilent’s CDMO specialisation in oligonucleotides and CRISPR therapeutics in three key areas and expands its portfolio of services.
Biovectra offers sterile fill-finish services, pDNA and mRNA capabilities, and lipid nanoparticle (LNP) formulation, and adds rapidly growing modalities.
The Canadian CDMO brings expertise in antibody-drug conjugates (ADCs), highly potent active pharmaceutical ingredients (HPAPIs), and GLP-1, and capabilities to support gene editing.
Agilent said that its expertise in gRNA combined with Biovectra’s capabilities in biologics will provide customers with a single source for gene-editing technology.
Biovectra CEO Oliver Technow said: “Biovectra is excited to join Agilent, a company whose dedication to people and customers is very much aligned with ours.
“Biovectra has dedicated nearly 55 years to the relentless pursuit of helping our customers solve complex problems that improve patients’ lives.
“This synergistic pairing of our capabilities with Agilent’s will further enhance the value we can offer to our customers.”
