CeeTox acquires assets from ADMETRx to boost ADME

23-May-2010 - Last updated on 24-May-2010 at 08:49 GMT

Related tags Contract research organization

CeeTox has acquired laboratory assets and hired staff from ADMETRx, which has ceased operations, as part of its strategy of establishing itself as an in vitro services leader.

Responding to client requests for a full range of in vitro services, CeeTox has sought to expand its offering to include genetic toxicology and protein binding assays, as well broaden its absorption, distribution, metabolism, and excretion (ADME) services.

The acquisition of assets from ADMETRx forms part of this strategy. ADMETRx decided to cease operations, Timothy Mitchell, president of CeeTox, told Outsourcing-Pharma, and following this CeeTox moved to acquire certain assets.

Included in the deal is laboratory equipment owned by ADMETRx and CeeTox has also hired eight of the firm’s former staff, including Phil Burton, the company’s cofounder and CEO. However, CeeTox has not taken on ADMETRx’s brand name, liabilities or debt.

CeeTox is well aware of the capabilities at ADMETRx having collaborated together on a number of studies over the past five to six years. Furthermore, both firms were set up in the same incubator in Kalamazoo, Michigan, US after Pharmacia was acquired by Pfizer in 2002.

“A very unique CRO”

Enhancing its ADME capabilities is part of CeeTox’s efforts to “build a very unique contract research organisation (CRO)”, explained Mitchell. The goal is to create a world leader in in vitro services by combining advanced scientific capabilities with service tailored to each client.

CeeTox has strong scientific credentials, added Mitchell, and James McKim, the chief scientific officer, plays a significant role in this. Mitchell explained that McKim is a former Pharmacia employee and has led the creation of novel assays.

To support these scientific capabilities CeeTox has created a service culture tailored to the small and medium sized companies that make up the majority of its clients. Mitchell believes by taking time to guide these firm’s development efforts CeeTox can offer smaller firms a better service than big CROs.