bioRASI buys Ukraine CRO for E. Europe heft

Florida's bioRASI has completed its acquisition of Sponsors Clinical Research Group, planning to integrate the Ukraine company's capabilities and client roster into its growing Eastern European market share.

SCRG has been in business since 2004, handling trials for cardiology, neurology, oncology, endocrinology and pulmonology, and bioRASI said its buyout is a response to client demand for global clinical trials. Neither company is disclosing financial details.

"We have been working with SCRG for over a year and have been impressed with the superior expertise of its staff, so it was only natural to consider a more integrated structure," bioRASI chairman Boris Reznik said in a statement. "This acquisition enhances bioRASI's global infrastructure focused on delivering optimized clinical development for our sponsors who are under increasing pressure to accelerate drug development timelines while minimizing costs."

The CRO launched in 2002 as joint effort between Russian scientists and American investors. Since then, bioRASI has grown into a global trial runner with operations in North America, Russia, India and Eastern Europe, handling Phase I-III studies for thousands of sponsors.

- read the announcement