The dermatology specialty clinical research organization (CRO) will maintain its Research Clinics Division (RCD) as TKL Research, operating inpatient and outpatient Phase I facilities in New Jersey.
Jon C. Anderson, Ph.D., President and CEO of TKL Research, explained that with the sale TKL will be able to focus on providing these services.
“We look forward to the future of TKL’s Research Clinics Division as we begin to operate independently as TKL Research, Inc.,” he said.
The transaction, terms of which were not revealed, is expected to close before the end of the year.
"Dermatology-focused biopharmaceutical companies are increasingly seeking specialized development partners with the experience necessary to help bring their products to market," Phil Bridges, Senior Director, Corporate Communications, QuintilesIMS, told us. "TKL Research brings a strong reputation as a leader in the dermatology clinical development industry."
The acquisition will enhance QuintilesIMS’s therapeutic expertise by adding a "highly specialized" dermatology clinical development market leader to its existing capabilities, Bridges explained.
"TKL Research’s dermatology-focused CRO capabilities also complement Novella Clinical’s existing capabilities as a specialty CRO and expand its specialty business units and therapeutic expertise," he added.
Dr. Robert Reardon, Executive Vice President and COO at TKL Research told us that the company will be able to maintain its dermatology focus while leveraging Novella’s clinical development expertise as a specialty CRO.
"TKL Research also will be able to leverage QuintilesIMS’s robust clinical services, breadth and depth of healthcare insights and global scale to help its clients deliver the next generation of dermatology clinical development," added Reardon.
Additionally, Bridges said that QuintilesIMS "recognizes that TKL Research’s people are an integral part of its overall value."
"In fact, the experience, expertise, and quality of the people were major reasons to acquire TKL Research’s Clinical Trials Division," he added.
"As we move forward, we will continue to determine how we can best work together, leverage synergies that bring value to our clients, and ensure we capitalize on what has made both companies successful to this point."