Vaccine and oncology CRO Accelovance has furthered its footprint in Europe with the acquisition of THERAMetrics’ three CRO subsidiaries and Phase I unit in Germany, Italy and Romania.
The deal--financial details of which were not disclosed--will also see Rockville, MD-based Accelovance take on management of Swiss THERAMetrics' ongoing clinical program work in the U.S.
Stephen Trevisan, CEO of Accelovance, said: “Accelovance is excited to continue its European expansion into Germany, Italy, and Romania and to welcome the addition of these talented employees to the Accelovance family. We appreciate the important opportunity to continue working on the valuable assets of THERAMetrics' current sponsors, and look forward to supporting their needs in successfully delivering on their programs.”
Raffaele Petrone, chairman and CEO of THERAMetrics, added: “I am pleased to announce this important transaction with Accelovance. Not only does it mark the beginning of THERAMetrics' operational transformation, it gives our CRO business, and its employees, the opportunity to thrive under the leadership of a strong global player in the CRO industry.”
The acquisition adds to Accelovance's European and service expansion efforts over the last two years with its buys of providers Altair Clinical, from the U.K., and Amsterdam’s Clinquest.
The CRO, long specializing in oncology and vaccine development, expanded into general medicine in 2013 with its acquisition of Radiant Development, the CRO arm of Radiant Research. That deal gave Accelovance new capabilities in cardiovascular, dermatology, nutrition and urology, plus outposts in Illinois and Florida.
THERAMetrics, a global technology-based contract research and development organization, is listed on the SIX Swiss Exchange under the symbol "TMX" and is headquartered in Stans, Switzerland.
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