Two early-phase CROs merge
(CRO) space have announced their intentions to merge.
QPS, which provides contract testing services to support pre-clinical and early clinical research and development, will acquire Bio-Kinetic Clinical Applications, and gain new capabilities in Phase I clinical services. QPS' expertise lies in bioanalysis, ADME, QWBA, molecular biology and biomarker/immunoassay testing, while Bio-Kinetic has a Phase I clinical trials unit with over 240 beds. The joining of the two firms allows them to offer biopharma firms a more comprehensive spectrum of drug development services, from discovery and preclinical, through to investigatory new drug (IND) application, and Phase I research, they said. Financial details were not disclosed, although the firms said that the acquisition is being structured as a merger, with Bio-Kinetic shareholders receiving membership interests in QPS. Bio-Kinetic will retain its name and become a wholly-owned unit of QPS. The acquisition, if it is approved to the satisfaction of certain customary conditions, is expected to close on 1 January, 2008.
