Reports suggest Covance has sold its shares in Caprion

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Reports suggest Covance has sold its shares in Caprion
Reports suggest Covance has sold its minority stake in biomarker service firm Caprion Proteomics which has been acquired by Chicago Growth Partners.

According to a report by Canadian website techfinance.ca the US contract research organisation (CRO) has sold the stake it acquired in Caprion in 2008​ when it partnered with the firm to boost its biomarkers offering.

Covance has not yet issued a statement , however other Caprion shareholders Grand PointPartners I and Thallion Pharmaceuticals have both announced that they have sold their shares in the firm to investment fund Chicago Growth Partners.

If confirmed the sale is likely to have an impact on the discovery and transalational services​ unit that Covance set up in 2010.

At the time the CRO said the unit would leverage both Caprion’s capabilities and those ofRules-Based Medicine (RBM​), with which it partnered in 2009.

Caprion operates research labs in Montreal, Canada and in Menlo Park, CA where it provides large-scale proteomics biomarker and drug target discovery and validation services for clients in the pharmaceutical, biotech and public sectors.

Caprion acquired PPD Biomarker Discovery Sciences, from PPD Inc. in 2010 and the assets of the National Immune Monitoring Laboratory in 2011. Caprion 

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