EAG expands biopharma analysis capabilities in 'major investment'
The company is calling it a “major investment,” which is part of a previous multimillion-dollar capital investment in instrumentation. The announcement comes on the heels of EAG’s purchase of Analytical Bio-Chemistry Laboratories (ABC Laboratories), a Contract Research Organization (CRO) providing product development and analytical testing services for small and large molecule therapies.
"The pharmaceutical industry has a critical need for high-quality contract laboratory partners who can perform the complex analyses required to fully characterize a biopharmaceutical," said EAG's CEO, Siddhartha Kadia, Ph.D. "Since launching its biopharmaceutical offering in 2008, ABC had built a great reputation for its scientific excellence, but the company needed additional capital to strengthen its analytical toolbox."
According to the company, the FDA’s recent approval of the second biosimilar and the larger number of biotech drugs losing patent protection in the next couple years will drive up demand for these types of services.
"Biotech drug development requires different analytical techniques than traditional 'small molecule' pharmaceuticals, and interpreting study results requires deep insight into the mechanisms of biopharmaceutical behavior," said Prasad Raje, Ph.D., Senior Vice President of EAG's Life Sciences division.
"Our biopharmaceutical scientists have built a reputation for solving complex analytical issues for our clients," he added. "Having more advanced analytical equipment will enable them to get there faster, and simultaneously support a greater number of programs."
