RxCelerate buys biotech-focused accounting firm, names new CFO

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/Tzido)
(Image: Getty/Tzido)
The UK-based CRO RxCelerate continues to expand with its recent acquisition of The Cambridge Partnership for £1.45m ($1.96m) as it aims to carry out its vision of supporting virtual biotech companies.

RxCelerate ​also has hired Nick Tait as group chief financial officer (CFO). Tait previously was a director at Cambridge Healthcare Research.

Founded in 2013 on the Babraham Research Campus, The Cambridge Partnership provides financial control, accountancy, company secretarial, and back-office services to the biotechnology industry.

The Cambridge Partnership will retain its brand and operate as a separate company.

Last week, the contract research organization (CRO) announced the acquisition​ of specialist bioanalytical contract research lab, Total Scientific.

Following the most recent purchase, the total number of employees across the RxCelerate group now totals 38.

RxCelerate chairman and founder Dr. David Grainger said the company’s vision has “always been to provide everything needed to create and run a virtual biotech company.”

“These young start-ups need tailored back-office services to free up founders to focus their attention on developing their drug candidates, knowing the administration is being handled properly,”​ he commented in a press release.

RxCelerate has not responded to a request for comment.

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