CROs ‘combine forces’ to meet demand from biopharma customers
Veristat, a full-service clinical research organization (CRO) based in Southborough, MA has completed its acquisition of Topstone Research, a Canadian-based specialty contract research organization (CRO) providing Phase II-IV services.
Veristat CEO Patrick Flanagan said the company had been looking to broaden its clinical operations capabilities. “Our customers are moving their therapies to pivotal trials quickly and have continued to ask us for more of the services we provide and additional, complementary clinical services,” he told us.
The acquisition bolsters Veristat’s core therapeutic areas of excellence and broadens its therapeutic expertise with respiratory and dermatology, Flanagan said.
“Additionally, Topstone adds patient recruitment and retention support, a site engagement team, and medical safety and monitoring expertise to support investigators and sites with study conduct in an ethical, patient safety-focused approach,” he added.
Topstone will be integrated Veristat’s current monitoring and site management organization transitioning to the Veristat name and brand over the coming months.
The combined team now consists of nearly 300 experts located in six offices.
Topstone’s current CEO, Shaheen Limbada, will become Veristat’s executive vice president of clinical operations with both companies’ clinical operations teams uniting under his leadership.
As for next steps, Flanagan said the acquisition is part of the growth strategy that Veristat will continue to pursue to improve and expand its capabilities to new service offerings and geographies, “to serve the growing demands of our emerging and small to mid-sized biopharmaceutical customers.”
“Where an opportunity presents itself to combine with a company which shares Veristat’s mission to help clients develop life-enhancing therapies and our commitment to delivering high-quality services which make a difference we will seek to combine forces,” he said.
