Pharmaceutical Business review

Riverside Partners completes investment in BioAgilytix Labs

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.