While Lambda’s first US-based facility, Novum will be the company’s second in North America following its 2010 acquisition of Biovail’s R&D facilities in Canada. The India-headquartered contract research organization (CRO) also has offices in Poland and the UK.
Following the transaction, Novum will retain its identity and operate as a division of Lambda led by CEO Christopher Chamberlain, who will manage US operations.
The deal – which Chamberlain called “a powerful strategic move between two like-minded CROs with many years of experience” – also marks Lambda’s entrance into the US market
“There will also be a wide array of high-quality services under one umbrella that will greatly benefit customers. Both companies have extensive experience with early and late phase research, but specialize in somewhat complementary niches,” he told us.
“The combined company will allow clients to conduct many types of late phase research on a global scale, pursue large molecule and highly complex trials, including 505(b)(2) programs, patient studies, and topical and transdermals,” added Chamberlain.
Clients also will have access to bioanalytical capabilities, pharmacovigilance, and imaging services.
As per integration, Chamberlain said all plans are in active development as the companies close the transaction, financial terms of which have not been disclosed.