Deal-hungry Precision Medicine has barely seen the ink dry on its March accord with a major oncology CRO before booking a new acquisition in Applied Immunology.
Bethesda, MD-based Precision Medicine has acquired California-based Applied Immunology to get hold of its custom cell-based and immunoassay solutions. The CRO supports life science companies in areas from immuno-oncology and rare diseases to biosimilars from research to postapproval.
Its client base includes some of the most pioneering new venture-backed startups, along with pharma companies, according to Precision.
Applied Immunology strengthens and expands Precision’s specialty laboratory services in cell-based and immunoassays, and creates state-of-the-art laboratory access for Precision's west coast biotech clients.
Precision, a CRO-type company, specializes in biomarker research with expertise in genomics, bioinformatics, assay development, specialty lab services, global specimen logistics, and companion diagnostics. In March it signed a deal to buy ACT Oncology, bolstering its cancer CRO services. Financial details for both deals have not been made public.
"The acquisition of Applied Immunology deepens our scientific expertise and moves us closer to our west coast clients, many of which are pursuing indications where an in-depth exploration of the immune system and immune response to drugs is paramount," said Chad Clark, president of Precision for Medicine.
“Precision's global laboratory infrastructure and deep expertise in oncology combined with Applied Immunology's expertise in specialty assays creates a global solution for our customers pursuing immune therapeutics, including immuno-oncology.”
In a statement, both companies said: “The combination of Precision and Applied Immunology fortifies Precision's goal of becoming the critical solution provider to help innovative life sciences companies succeed in this new era of biomarker-driven development of novel therapies, particularly those targeting oncology and the immune system.”
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