BOSTON and DURHAM, N.C., June 4, 2013 /PRNewswire/ -- Riverside Partners, a Boston-based private equity firm, is pleased to announce that it has completed an investment in BioAgilytix Labs ("BioAgilytix"), a leading contract bioanalytical laboratory specializing 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, optimizing 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 organizations have a very strong cultural fit," said Jim Petrilla, Co-Founder and CEO 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 utilizing our deep healthcare experience to help accelerate the Company's growth," said Philip Borden, General Partner at Riverside Partners.
About BioAgilytix Labs
BioAgilytix Labs is a specialized bioanalytical testing laboratory focused on large molecule bioanalysis for the pharmaceutical, biotechnology and agriculture industries. BioAgilytix Lab's mission is to provide outsourced analysis of biological samples that supports the work of companies seeking regulatory approval of their biopharmaceutical and agricultural products. For more information on the Company, please visit www.bioagilytix.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Partners Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA.
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SOURCE Riverside Partners