Offering outsourced laboratory services like analysis of biological samples, BioAgilytix serves the pharmaceutical, biotechnology, and agriculture industries which support drug discovery, pre-clinical and clinical development, and manufacturing.
BioAgilytix co-founder and CEO Jim Petrilla said, "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."
Riverside Partners general partner Philip Borden added, "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."
The company manages $1bn of equity capital and seeks to make investments in companies with revenues between $20m and $200m and with $5-$25m of EBITDA.