Syneos acquires consulting firm to boost regulatory, safety, pharmacovigilance capabilities
Established in 2005, Kinapse provides services across clinical and commercial development. According to Syneos, Kinapse’s capabilities will expand its post-market regulatory, safety, and pharmacovigilance consulting and operations.
The deal also bolsters Syneos’ clinical trial transparency, medical writing and quality operations and consulting capabilities in R&D and clinical operations, medical affairs, market access, and quality and compliance.
Additionally, the UK-headquartered company has more than 600 staff located in Europe, India, and the US – increasing Syneos’ capabilities in Asia Pacific and doubling its consulting footprint in Europe.
Kinapse operations will be integrated into Syneos’ consulting business.
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The acquisition – terms of which were not disclosed – was funded through cash on hand.
As part of the announcement, Syneos reaffirmed its 2018 guidance range provided earlier this month. Also on the second quarter earnings call, Syneos CEO Alistair Macdonald said the company’s commercial strategy consulting services represents one of its fastest-growing lines of business.
The company reported total net awards of $1.1bn, which included multiple new strategic relationships, driven by collaboration and cross-selling across the clinical and commercial organizations, he said.
Regarding the Kinapse acquisition, Macdonald said the company is “poised to further strengthen” its commercial business by integrating Kinapse’s services into “more comprehensive offerings.”
“As customers increasingly face risk, competition and rising development costs, the innovative, technology-enabled solutions provided by Kinapse are seeing increasing demand,” he said in a press release.
Syneos is not providing any further comment at this time.
