CXR Biosciences is a “problem-solving investigative toxicology business” rather than a generic safety toxicology company, Concept told Outsourcing-Pharma.com.
The newly acquired company performs mechanistic toxicology (mode of action studies for discovery and pre-clinical uses), including integrated metabolism and pharmacokinetics.
Services include ADMET (absorption, distribution, metabolism and excretion assays, combined with potential toxicity tests) via mass spectrometry. Early ADMET profiling can speed up the prediction of lead molecules for further Phase I trials far more cost effectively, Concept said.
CXR also carries out contract bioanalysis (LC-MS/MS and Q-TOF), genomics, bioinformatics (microarrays, pathway analysis, systems toxicology), and biochemical analysis.
A spokesperson said CXR was picked for acquisition as it complements Concept’s existing chemical synthesis and biological services platforms.
The company did not disclose financial information about the deal, but said it was “an important step” towards its ambition of £100m yearly revenue. The Concept Life Sciences Group currently has more than 600 staff across the UK, and has stated plans to expand to other European locations.
The company is funded by private equity group Equistone Partners Europe as part of their €1.5bn ($1.7bn) Fund IV. The Group acquired Peakdale Molecular, Resource & Environmental Consultants Ltd., and Scientific Analysis Laboratories Ltd/ in a $100m deal in July 2014.
A spokesperson told us despite synergies, there will be no job cuts following the acquisition, and Concept’s head count is likely to increase. CXR Biosciences will keep its name and operate under the Concept Life Sciences Group umbrella.