Riverside Partners, a Boston-based private equity firm, has completed an investment in BioAgilytix Labs, a contract bioanalytical laboratory specialising in large molecule biologic drugs.
Riverside Partners’ investment was completed in partnership with the BioAgilytix founders and management team.
Headquartered in Research Triangle Park, North Carolina, BioAgilytix provides outsourced laboratory services to customers within the pharmaceutical, biotechnology, and agriculture industries. By developing, optimising and conducting bioanalytic testing, the company offers its customers a high-quality outsourcing option, which supports drug discovery, pre-clinical and clinical development, and manufacturing.
"The BioAgilytix team is very excited work with Riverside Partners. The Riverside team has a great understanding of how to scale a pharmaceutical services business, and the two organisations have a very strong cultural fit," says Jim Petrilla, co-founder and chief executive of BioAgilytix.
"Co-founders Jim Petrilla and Dr Afshin Safavi have built a terrific business focused on supporting large molecule drug development, a very exciting area within the pharmaceutical and biotechnology industries. Riverside Partners is looking forward to utilising our deep healthcare experience to help accelerate the company’s growth," says Philip Borden, general partner at Riverside Partners.
