Exclusive financial advisor to Toxikon
KPMG Corporate Finance LLC acted as exclusive financial advisor to Toxikon
KPMG Corporate Finance LLC (KPMG CF) acted as exclusive financial advisor to Toxikon on its sale of the business to Labcorp, a leading global life sciences company.
Toxikon is a leading preclinical contract research organization (CRO) providing in vivo, in vitro, and analytical testing services for the pharmaceutical, biotechnology, and medical device industries worldwide, helping those companies gain approval for their products quickly and bring them to market successfully.
Headquartered in Bedford, Massachusetts, Toxikon maintains specialized, state-of-the-art facilities and a robust roster of pharmaceutical, biotech, and medical device clients. Its highly trained staff provides an extensive portfolio of in vivo and in vitro testing and related consulting services to support life sciences companies. The facility in Bedford also has capacity for growth and provides Labcorp Drug Development with an opportunity to expand its traditional toxicology business.
“As a part of the Labcorp family, we will have an opportunity to broaden our impact through access to extensive resources, knowledge, and support,” said Dr. Laxman S. Desai, Toxikon’s founder, president, and CEO. “Together, we can provide better outcomes for our clients and, ultimately, the healthcare providers and patients who depend on our continued success and innovation.”
Labcorp has more than 70,000 employees and serves clients in more than 100 countries. “Adding Toxikon underscores our commitment to nonclinical development and advances our capabilities for both drug development and medical device testing,” said Dr. Paul Kirchgraber, CEO of Labcorp Drug Development. “This acquisition extends Labcorp’s portfolio of full-service drug development and medical device solutions from discovery to market approval.”
KPMG CF acted as exclusive financial advisor to Toxikon. KPMG CF partnered with the KPMG Financial Due Diligence and Tax Advisory practices to provide a comprehensive and integrated solution for the client.
Dr. Laxman S. Desai further commented: “This transaction was a complex endeavor that took many twists and turns along the way. KPMG CF demonstrated tremendous perseverance and was instrumental in helping us to achieve an optimal result. We would like to thank KPMG CF for their unwavering support.”
Financial details of this transaction are confidential.
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The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked as the top (#1) M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.