Cobepa Explores $2 Billion-Plus Sale of BioAgilytix

(Bloomberg) -- Cobepa SA, a Belgian private equity firm, is exploring a sale of BioAgilytix that could value the drug-research services company at more than $2 billion, according to people with knowledge of the matter.

The firm is working with an adviser on a sales process for Durham, North Carolina-based BioAgilytix, the people said, asking not to be identified because the deliberations are private. Considerations are at an early stage and there’s no guarantee the company will be sold.

BioAgilytix provides large molecule bioanalytical testing services with locations in Durham, Boston and Hamburg, according to its website.

A representative for BioAgilytix didn’t respond to requests for comment. A representative for Cobepa couldn’t immediately be reached for comment.

The company could be seeking to capitalize on surging valuations for pharmaceutical services companies after buyout firm EQT AB last month reaped a windfall in agreeing to sell Aldevron to Danaher Corp. for $9.6 billion after originally investing at a valuation of about $3 billion.

Founded in 1957, Cobepa invests as a minority and controlling investor mainly in Europe and the United States, according to its website. It was a unit of French lender BNP Paribas SA until 2004, when it became an independent investment firm.

©2021 Bloomberg L.P.