(Bloomberg) -- Curia, a company backed by private equity firms Carlyle Group Inc. and GTCR that does contract research and development work for drugmakers, is in talks to acquire two smaller rivals, LakePharma and Integrity Bio, according to people with knowledge of the matter.
The two transactions, which could be announced as soon as this week, are expected to collectively be worth more than $500 million, including debt, said the people, who asked not to be identified because the information was private.
Final agreements haven’t been reached and talks could still fall apart, the people said.
A spokesperson for Curia said the company routinely evaluates organic and inorganic investments, though it hasn’t announced any news at this time. Carlyle and GTCR declined to comment. Representatives for LakePharma and Integrity Bio didn’t immediately respond to requests for comment.
Curia, based in Albany, New York, is a global contract research, development and manufacturing service provider to the pharmaceutical and biopharmaceutical industries. It changed its name from Albany Molecular Research Inc., or AMRI, according to a statement this week.
“The name Curia is derived from a Latin word for purposeful assembly and references Curia’s patient-inspired mission,” the company, led by Chairman and CEO John Ratliff, said in the statement. Curia said it has 564 active patents and produces more than 20 treatments included on the list of essential medicines from the World Health Organization.
Curia agreed in 2017 to be taken private in a transaction led by affiliates of Washington-based Carlyle and Chicago-based GTCR. The company has about $965 million in debt, according to data compiled by Bloomberg.
Both LakePharma and Integrity Bio provide services to biotechnology companies to help create medicines and treatments.
©2021 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR