Agilent Technologies plans to buy Canadian CDMO Biovectra in a $925 million deal, which Agilent says will deepen its focus on oligonucleotides and CRISPR.
Biovectra says it has fill-finish services, pDNA and mRNA capabilities, lipid nanoparticle formulation and expertise in ADCs and GLP-1s. According to Agilent, the combined companies can become a single source for gene editing technology.
Padraig McDonnellAgilent president and CEO Padraig McDonnell wrote in a statement announcing the deal that 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.”
The deal is expected to close by the end of this year.
Biovectra generated $113 million in revenue last year and has expectations of double-digit growth this year, while Agilent reported 2023 revenues of $6.83 billion.
Agilent previously announced plans for a restructuring this year, which included laying off 184 staffers across six of its locations in California, with most of the cuts from the company’s headquarters in Santa Clara.