Aragen secures $100M funding from Quadria Capital
The investment will result in Quadria acquiring a minority stake in Aragen, at a valuation of around $1.4 billion, primarily through a fresh capital infusion, with a small portion from the sale of shares by existing investors.
Contract research, development and manufacturing organisation Aragen on Monday said it has secured $100 million investment from private equity fund Quadria Capital.
The investment will result in Quadria acquiring a minority stake in Aragen, at a valuation of around $1.4 billion, primarily through a fresh capital infusion, with a small portion from the sale of shares by existing investors, the company said in a statement.
The funding will support the company's strategic expansion of its capabilities and infrastructure, enabling it to meet the growing demand for outsourcing services from innovators in the US and Europe, it added.
With investment, Quadria joins Goldman Sachs as the second strategic investor in Aragen.
"This investment marks a pivotal moment as we scale to meet the needs of a rapidly evolving market,” said Manni Kantipudi, CEO, Aragen Life Science.
"Our expanded capabilities will allow us to support the rising demand for integrated discovery and manufacturing services, and, most importantly, help our customers accelerate their programs to market faster and more efficiently," he added.