Preclinical CRO Lab Research says new contracts are a sign of continuing recovery in market as well as firm’s ability to attract broader clientele base.
Canada-headquartered Lab Research has landed a number of initial study deals with, according to CEO Luc Mainville, five new top 35 pharmaceutical industry customers.
And, while Mainville was unable to disclose the names of the firms involved, he did give Outsourcing-pharma an insight into the type of projects the contract research organisation (CRO) will undertake.
He explained that: “We are working on several compounds for some of [the new clients] and the test articles include vaccines, protein therapeutics, peptides and small molecules.”
Mainville also set out the rationale for the work from the clients’ perspective, adding that: “Prices range from $15k to $400k so some are clearly using these studies to validate our ability to meet reporting quality and timelines.”
He went on to explain that: “These first studies are part of a ‘Process’ that allows the client to gain comfort about our ability to deliver,” adding that they follow GLP and animal welfare inspections at Lab Research’s facilities.”
In June, the CRO’s 156,000 sq ft facility in Laval, Quebec received formal good laboratory practice (GLP) recognition from the Standards Council of Canada, following a successful inspection. This followed similar awards for its laboratories in Denmark and Hungary.
Setting the contracts in a wider preclinical research industry context Mainville also suggested that: “While we are seeing a pick-up in demand, our client gains also reflect our ability to attract a broader clientele following the addition of key staff, and services.”
This fits with the pattern Lab Research highlighted during its most recent financial results presentation in May when it reported the demand for preclinical work was healthier that in the year-earlier comparable quarter.