Canada’s Altasciences has penned a new deal that sees it snap up the preclinical testing business of SNBL USA.
The buyout will add “comprehensive preclinical safety testing services” to Altasciences’ current clinical and bioanalytical offerings.
This sees the midsized CRO add to its services, now offering everything from lead candidate selection to proof of concept.
The acquisition, financial details of which were not disclosed, is “an integral part of the company’s strategic growth plan to address the ever-changing outsourcing challenges of biopharmaceutical companies across the globe.”
The deal is expected to be completed by the end of September, the company said.
“Expanding our services to include preclinical safety testing was a natural progression,” Chris Perkin, Altasciences' chief executive, said in a statement. “We knew we had a unique opportunity to work toward creating a strategic combination of services that would make the outsourcing process for our clients easier and more cost effective, while shortening the timeline to proof of concept.”
Algorithme Pharma, Vince & Associates Clinical Research and Algorithme Pharma USA operate under the Altasciences umbrella. Combined, they boast more than 600 beds for phase I/II studies.
Altasciences, which was acquired by Audax Group in June 2017, bought Vince & Associates in 2013. That deal was followed by the launch of Algorithme Pharma USA the next year.