Avista Capital Partners has acquired Taconic Biosciences, a provider of genetically engineered research models (GEMs), as it reaches its 70th anniversary.
Taconic specialises in genetically engineered research models and services, specifically murine models for use in drug discovery research and non-clinical safety testing.
The company has reassured customers that there will be no interruption or changes to services due to the new ownership.
Rob Girardi, Partner at Avista, said: “Our acquisition of Taconic represents Avista’s ninth investment in the outsourced pharma services sector, a testament to the value and growth potential we continue to see in the space.”
Nancy Sandy, CEO of Taconic, added: “Avista has a strong track record of creating value for companies in the outsourced pharma services sector, and we look forward to benefitting from the firm’s experience and resources as we grow our company.”