Contract researcher KCR is dialing up its presence in Ukraine, buying out a competitor's whole clinical portfolio and doubling down on a country it believes is ripe for R&D growth.
Under the deal, Warsaw-headquartered KCR is acquiring Axis Group's roster of projects, bolstering its existing presence in Ukraine and honing its focus on the Commonwealth of Independent States (CIS), the company said.
KCR already has an office in Kiev focused on clinical trials, staffed by about 40 workers. With the Axis buyout, Ukraine is now KCR's most important beachhead in the region, the company said.
|KCR CEO Mike Jagielski|
"KCR has a long and successful history of conducting clinical trials in Ukraine since we registered our subsidiary in the country in 2007," CEO Mike Jagielski said in a statement. "With the integration of 15 Axis projects and almost the entire clinical operations team, we consider KCR as one of the key players in Ukraine in regards to trials execution. Ukraine, being the second most populated country in the CIS region, presents a favorable market for conducting clinical studies."
Ukraine is home to a wealth of top-tier medical institutions and universities carrying out studies, KCR said, adding that the contracts it's acquiring are not affected by the political turmoil in the eastern part of the country.
On the whole, KCR operates out of 19 countries across Europe, employing more than 300 people and offering Phase I through IV to global clients.
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