Biopharma demand for bioanalysis is outstripping supply, according to Synexa Life Sciences, which says buying Syrinx Bioanalytics will help it capture a bigger share of the market.
Leiden, Netherlands-headquartered Synexa bought Syrinx last week, citing the Finland-based CRO’s capabilities in pharmacokinetic and immunogenicity analysis as the primary motivations for the deal. Financial details were not disclosed.
A Synexa spokeswoman told Fierce Biotech that the growing market for these services is a significant opportunity as demand for pharmacokinetics and immunogenicity bioanalysis grows due to new therapeutic classes and biosimilars.
“Global capacity in the bioanalysis industry is becoming very constrained, and lab lead times have stretched to 9-12 months in many cases," the spokesperson said. "We’re playing our part in expanding capacity and bringing innovative solutions to the bioanalytical challenges of new therapeutic areas, such as cell and gene and exosome therapies.”
All the staff at Syrinx—including the leadership team—will be employed by Synexa, and the firm plans to further expand in time, she said.
The deal comes days after Synexa outlined a growth plan focused on global expansion through acquisitions and sought-after services. Buying Syrinx—which operates a radiopharmaceuticals laboratory in Turku, Finland—is the first stage of this expansion process, according to the spokesperson.
“This is a global market, and our priority geographies are the U.S., Europe and Asia,” she said. “Additional acquisitions are being planned and will be announced at the appropriate moment in time.”