Private CRO Rho inked its largest-ever federal contract, signing a 7-year deal with the U.S. National Institutes of Health that will pay out about $16.5 million each year.
Under the agreement, Rho is tasked with helping the National Institute of Allergy and Infectious Diseases' Division of Allergy, Immunology and Transplantation (DAIT) as it runs research consortia focused on asthma, allergic diseases, autoimmune disorders and transplantation. Rho will serve as DAIT's clinical coordinating center, providing principal investigators to help manage the expansive R&D effort.
In addition to the $16.5 million per year, the agreement gives Rho an additional $6.8 million in the first year to get started, setting the maximum value above $120 million.
"Rho is excited to be selected as DAIT's statistical and clinical coordinating center to support the important work they are doing to help combat serious health concerns, such as asthma and allergies, autoimmune diseases, and transplantation," CEO Russ Helms said in a statement. "Rho's expertise and resources will help assure top-notch operational support, statistical analysis, clinical data management and bioinformatics services."
The North Carolina-headquartered Rho gets about half of its business from similar federal contracts, and the DAIT agreement follows a 2014 pairing with the Department of Defense covering the development of therapeutics and diagnostics that could combat biological threats and pandemics. That deal, spanning 5 years, could bring in as much as $100 million for the CRO.
- read the statement