Agilent Technologies has signed a definitive agreement to acquire contract development and manufacturing organization Biovectra for $925 million.
Charlottetown, Canada-based Biovectra produces biologics, oligonucleotide therapies, potent active pharmaceutical ingredients, and other molecules for targeted therapeutics.
Agilent will fund the transaction using cash on hand and debt financing. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close before 2025. Upon completion, Biovectra will become part of the Agilent Diagnostics and Genomics group.
In a statement, Agilent said the acquisition will expand the firm's specialization in oligonucleotides and CRISPR therapeutics, which will support gene editing, while growing its expertise in antibody-drug conjugates, potent active pharmaceutical ingredients, and glucagonlike peptide 1.
