The deal, announced last week, will combine Hamburg-based CRS’ late-stage trial offering with CTI’s existing range of contract research services that operate from its offices in Frankfurt.
Speaking shortly after the acquisition was announced CTI CEO Timothy Schroeder, explained that firms’ respective focuses are a good match and should create a firm European base for growth.
“The primary therapeutic focus of CRS has been immunology and oncology, which complements our critically ill population expertise well.
Schroederalso said: “CTI also looks forward to maintaining and developing the business relationships CRS has established and maintained for nearly a decade through its operations across Europe.”
CTI also plans to set up a new regional office in Southern Germany sometime over the next few months, but did not provide any further details.
Cincinnati-headquartered CTI is contract research organisation (CRO) that is primarily focused on the early-phase development market, particularly in critically ill patients suffering from immunological disorders.
The firm also recently boosted its presence in the biostatistics and outcomes research field with the establishment of a new dedicated consulting office in Raleigh, North Carolina.
At the time CTI said that the move was designed to meet anticipated growth in demand for this type of service in the wake of the US Food and Drug Administration’s (FDA) Risk Evaluation and Mitigation Programmes (REMS).
Company president Lynn Fallon explained that: “With CTI’s focus on the critically ill patient population we are seeing an increasing number of FDA mandated REMS programmes from our sponsors.