Pharmaron acquires clinical CRO

01-Mar-2017 - Last updated on 17-Nov-2023 at 13:27 GMT

Pharmaron has acquired a majority stake in Shin Nippon Biomedical Laboratories Clinical Pharmacology Center, continuing its strategy of becoming a full service R&D service provider.

The Baltimore, Maryland-based Shin Nippon Biomedical Laboratories Clinical Pharmacology Center, Inc. (SNBL CPC) specializes in Phase I-II trials, including TQT/Phase 1 QT de-risking, first-in-human (FIH), Japanese Bridging and Phase II Proof of Concept (POC) studies in various therapeutics areas.

Following the transaction, the current shareholder, Shin Nippon Biomedical Laboratories, Ltd., will retain a minority stake in the business.

According to the company, the strategic acquisition brings Pharmaron one-step closer “to offering a full spectrum of R&D services.”

Mr. Larry Lou, President and COO of Pharmaron commented in a release, “Once integrated and further developed, the new clinical platform will fuel the corporate engine for business growth in a sustainable manner.”

In January, Pharmaron also acquired Xcelerton to further support early discovery, preclinical and clinical development with expanded radiolabeled science capabilities.

Financial terms of the transaction were not disclosed.

Pharmaron is not providing any additional comment at this time.

(Feature image: iStock/macgyverhh)