Sigma-Aldrich has agreed to acquire BioReliance from Avista Capital Partners for $350 million in cash. The acquisition is subject to customary closing conditions, including regulatory clearance, and is expected to close in the first quarter of 2012.

BioReliance provides biologics testing, specialized toxicology and animal health testing worldwide. BioReliance generated revenues of approximately $110 million in 2010 was projected to have double-digit growth expected in 2011. Avista Capital Partners acquired BioReliance in 2007.

Sigma-Aldrich president and chief executive officer Rakesh Sachdev stated, “Our vision for Sigma-Aldrich is to enhance our company’s broad product offering and strong technology platforms with a compelling and specialized services platform.  The addition of BioReliance’s industry-leading QA/QC testing services enables us to support customers’ needs to determine the quality and integrity of biological drugs at every step of the development and manufacturing process. As the market continues its focus on biological drug development, our leadership in this area should enable us to build even better, more customer-specific solutions. We are excited to add BioReliance’s capabilities and its talented employees to our company and fully expect its addition to contribute to our long-term growth and return goals.”

BioReliance’s president and chief executive officer Charles Harwood stated, “The acquisition creates one of the broadest product and service offerings for the development and manufacture of biological drugs. In addition, BioReliance’s Specialized Toxicology and Animal Health Services segments are complementary to other Sigma-Aldrich product and technology areas.”