Goldman Sachs buys stake in contract research firm Aragen Life Sciences

Goldman Sachs on Wednesday said it has made an investment in Aragen Life Sciences for a significant minority stake in the contract research organization. It, however, did not disclose the value of the investment. Goldman Sachs's alternative investing arm Goldman Sachs Asset Management picked up shares in the company, which was earlier known as GVK Biosciences, from Chryscapital and other investors, as per an official statement. A media report on Monday had said Chryscapital will be selling its 17 per cent and promoters will dilute 16 per cent to give one-third ownership of the company to Goldman, and the total company valuation was pegged at USD 1 billion. Aragen is well positioned to benefit from the secular trend of increased outsourcing by the life sciences industry. With a clear value creation plan in place, we look forward to closely working with the management and shareholders of Aragen, Rajat Sood, managing director at Goldman Sachs Asset Management, said. He added that the

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