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GVK Biosciences to acquire stake in Aragen Bioscience

Wednesday, 29 Jan 2014

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GVK Biosciences, a Hyderabad-based, small molecule contract research organisation (CRO), is planning to acquire 65 per cent stake in US-based, Aragen Bioscience.

Both the companies have signed an agreement in this regard. The financial details of the acquisition are not yet disclosed by the companies. Post acquisition, Aragen will be operated as a separate entity.

The acquisition will enhance GVK BIO's ability to offer high quality R&D services to the industry from a seamless integrated platform.

Further, GVK will acquire the remaining 35 per cent stake in Aragen Bioscience over a period of two years.