L-R: Melinda Pryor, Angela Luttick and Alistair Draffan, 360biolabs executive team, which has been acquired by US contract research laboratory BioAgilytix.
BioAgilytix Labs, LLC (BioAgilytix), a leading global contract research laboratory focused on large molecule drug development and analysis, has signed a definitive agreement to purchase 360biolabs, the most comprehensive contract research organisation in Australia and a member of the Alfred Research Alliance.
360biolabs is majority owned by another member of the Alliance, Burnet Institute, who will receive several hundred million dollars in revenue from the sale. The acquisition is subject to Australian Foreign Investment Review Board requirements and is expected to be complete in the third quarter of 2021.
BioAgilytix is headquartered in North Carolina, USA and also has labs in Boston, USA and Hamburg, Germany. Professor Brendan Crabb AC, director and CEO of Burnet Institute, said that, with the growing need for high quality clinical trial support, it was the right time for 360biolabs to join with BioAgilytix and expand their capacity to facilitate high quality translational medical research across the globe.
“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,” said Angela Luttick, 360biolabs cofounder and executive vice president, business development.
The acquisition of 360biolabs will expand BioAgilytix’s global footprint into a jurisdiction of choice to commence first-in-human trials and early-phase clinical trials, and adds further capacity by joining 360biolabs’ internationally recognised Quality systems (ISO/IEC 17025, ISO 15189, GLP and GCLP) in Melbourne with BioAgilytix’s existing laboratories in the USA and Germany.
“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,” said 360biolabs cofounder and CEO Alistair Draffan.
Melinda Pryor, cofounder and executive vice president, clinical, of 360biolabs, said, “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.”
With science playing such a leading role in the COVID-19 global pandemic response, Professor Crabb said the sale was another remarkable success story, not only for the Institute and the 360biolabs team, but also for showcasing the importance of ongoing support by Victorian and Federal governments in investing heavily in the world-renowned medical research sector in Melbourne and throughout Australia.