Novotech continues to expand its reach in the Asia-Pacific region with the acquisition of Australian specialist CRO Clinical Network Services.
Financial terms of the deal weren’t disclosed. The two companies will retain their separate brands and identities.
Clinical Network Services targets small, mid-sized and virtual biotechs with its early phase services. Novotech has more than 400 employees operating in the Asia-Pacific region, including business development staff in the U.S.
Clinical Network Services has a staff of 140 people in Australia, New Zealand and the U.S.
“Biopharma clients should know this is a bringing together of the highest quality CROs in the region,” John Moller, Novotech’s chief executive, said in a statement. “Novotech and CNS will continue to operate under separate brands with CNS specializing in early phase non-oncology clinical trials across Australia and New Zealand, and Novotech specializing in regional Asia-Pacific and global project delivery across all phases.”
Novotech has been busy of late. Earlier this month it inked a deal with Bangkok’s Phramongkutklao under which the two will partner to conduct early phase studies at the hospital’s research center while Novotech provides feasibility assessments and recruits patients for studies. In July, the Australian CRO announced a partnership with Philippines-based ophthalmology firm Asian Eye Institute for clinical research.