Biotech firm PolarityTE acquires preclinical CRO: 'A new arm of the company'

14-May-2018 - Last updated on 14-May-2018 at 15:30 GMT

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PolarityTE has acquired a preclinical biomedical research facility which will serve as a CRO to accelerate research and development and “help drive the field of biotechnology,” says CEO.

PolarityTE is a commercial-stage biotechnology and regenerative biomaterials company.

The company today announced the acquisition of a “fully-functional, operational and profitable” contract research organization (CRO). The CRO – which was not named – is regulated and compliant under both good laboratory practices (GLP) and United States Department of Agriculture (USDA) standards, according to PolarityTE.

“This purchase was a strategically pragmatic way to further expand our already robust research and development programs, and integrate a new arm of the company—PolarityRD—which will function as an advanced CRO to help drive the field of biotechnology to deliver on the promise of exciting emerging technology,” said Denver Lough MD, PhD, CEO and chairman of PolarityTE, in a statement.

Lough said the company will provide an update on PolarityRD and advancement of its research systems “shortly.”

As of publication, the company has not responded to a request for comment.

Investment in research

Earlier this year, PolarityTE hired Caroline Garrett, DVM, DACLAM, to serve as chief veterinary officer.

Garrett was previously an assistant professor in the department of molecular and comparative pathobiology and director of large animal clinical medicine and surgery at Johns Hopkins University.

“Research and development are incredibly important to PolarityTE, and I look forward to broadening the scope and magnitude of our preclinical research capabilities with this new facility,” Garrett said. “The continued growth of and investment in research is critical to bringing each of our pipeline products to reality.”