Contract research organization Veristat has snapped up fellow CRO The Clinical Trial Company as it looks to boost its presence in Europe.
The Clinical Trial Company (aka TCTC Group) is headquartered in Europe, with its global HQ in the U.K. The CRO provides clinical operations, regulatory, personnel and medical services for full-service clinical studies as well as stand-alone clinical trials for life science companies.
It has a focus on gene and cell therapy, central nervous system and orphan disease trials and also ran the studies for the first gene therapy approved in Europe. This will help Massachusetts-based Veristat, which works with small to medium-sized biopharmas, broaden its reach into the U.K. and Europe.
“With the addition of TCTC Group, Veristat has gained a highly skilled team of experts to support our clients worldwide,” stated Patrick Flanagan, CEO at Veristat. “Providing superior clinical services with our expanded team will enable us to better manage, recruit and run our clients’ trials on a global scale.
“In recent years the industry has seen increased funding in CNS and gene therapy research. With the addition of the TCTC team, Veristat has bolstered our resources in this critical therapeutic category and obtained a leader in Advanced Therapy Clinical Trials.”
Veristat said it would be retaining “the seasoned staff of clinical experts and contractors that TCTC Group has cultivated,” while Ewan Campbell, co-founder and former director of TCTC Group, will “stay on to provide his experience and expertise to our joint clients.”
“The team at TCTC Group are delighted to be part of Veristat,” said Campbell. “The acquisition by Veristat enhances our capabilities across all our services to proactively address the increased demand from sponsors. The combined people and service strengths will make Veristat the CRO of choice for small and medium biopharmaceutical companies who need assistance in bringing complex and novel therapies to patients worldwide.”
Four years ago, Veristat also bought out another U.K.-based company, Spero Oncology, its first major step into the European market.