Deal: The Macfarlane Burnet Institute for Medical Research and Public Health, and 360biolabs’ management shareholders have been advised on the sale of their interests in 360biolabs to BioAgilytix Labs.

Value: Undisclosed.

Area: M&A, corporate.

Key players: The Allens legal team was led by M&A partner Emin Altiparmak, with assistance from senior overseas practitioner Greg Lawson, senior associate Joanne Pak, associate Kye-Ren Cheong and lawyer Patrick O'Bryan.

Real estate partner Michael Graves, senior associate Zainab Mahmood and associate Simon Chiarelli also assisted in the deal, as did technology and privacy partner Michael Park and senior associate Jamie Griffin.

Deal significance: The Macfarlane Burnet Institute for Medical Research and Public Health is a Melbourne-based medical research and public health organisation, while BioAgilytix Labs is a US-based contract research organisation, backed by European private equity firm, Cobepa.

360biolabs is a Melbourne-based contract service organisation providing specialist expertise and laboratory services for the development of new therapeutics, vaccines and diagnostics, according to a statement from Allens, which noted the transaction “is expected to strengthen 360biolabs’ ability and capacity to support bioanalytical services across all stages, development capabilities and geographies”.

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Commenting further, lead partner Mr Altiparmak said: “360biolabs is another example of the exciting commercial opportunities coming out of our Australian medical research institutions.

“These niche healthcare investment opportunities remain very attractive to investors of all types including private equity sponsors, and so we expect there will be more coming to market in the year or two ahead.”