Friday, February 18, 2011

Second time around is charm for Aragen Bioscience

The fact that CEO Rick Srigley has built his biotech research firm Aragen Bioscience Inc. into a successful $6.7 million business is really no surprise. It’s actually the second time he’s done it.
Srigley was head of another contract research company called Sierra Biosource Inc., an Aragen predecessor which was sold in 2004 to Serologicals Corp. for $13 million. Fourteen months later, he bought back the assets for essentially nothing when Serologicals decided the business wasn’t a good fit after all.

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