Quintiles expands oncology work with TMD buyout

Quintiles Transnational, one of the world's largest CROs has inked a deal to buy Targeted Molecular Diagnostics of Westmont, IL. The TMD deal will give Quintiles a bigger presence in the clinical research field for oncology drugs, a hot area in drug testing these days. TMD was founded in 2004 and has 20 staffers. No terms for the deal were disclosed.

"This acquisition is a logical addition to Quintiles' service offerings," said Tom Wollman, senior VP of Quintiles Global Central Laboratories. "It provides us with advanced in-house pathology capabilities, including telepathology. Most importantly, TMD's knowledge in biomarker expression analysis adds significant new proficiencies sought by our customers."

"Our team is eager to join the world's leading pharmaceutical services company," Targeted Molecular Diagnostics founder and CEO Sarah Bacus said in a written statement. "... We believe the combination of our expertise in oncology combined with Quintiles' global reach will provide customers with exceptional service delivery."

- read the report from the Triangle Business Journal
- check out the press release

Related Articles:
Quintiles backs away from possible ClinPhone bid
CRO stocks boom despite market problems
Industry Voices: Get the most from your CRO
CROs play growing role in early-stage research
Examining your relationship with CROs