BioAgilytix to purchase Australia's 360biolabs

Monday, 23 August, 2021

BioAgilytix to purchase Australia's 360biolabs

BioAgilytix Labs, a global contract research laboratory focused on supporting its pharmaceutical and biotech partners in all stages of large molecule drug development, has signed a definitive agreement to purchase 360biolabs, which it describes as the most comprehensive contract research organisation in Australia.

Located in Australia’s biomedical and clinical research hub in Melbourne, 360biolabs is said to offer 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.

The acquisition will expand BioAgilytix’s global footprint into a jurisdiction of choice to commence first-in-human trials (FIH) 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 US and Germany.

“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,” said Jim Datin, President and CEO of BioAgilytix.

“Joining forces makes sense for our two organisations, 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.”

360biolabs co-founder and CEO Alistair Draffan added, “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.”

The Burnet Institute, a global medical research and public health organisation, is a co-founder and majority shareholder of 360biolabs. Its Director and CEO, Professor Brendan Crabb, 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, is expected to close in the third quarter of 2021.

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