Australian CRO buys US-based Ph I clinical trials organization
The early-phase contract research organization (CRO) Nucleus Network operates an 80-bed Phase I facility in Melbourne and a 62-bed Phase I facility in Brisbane, Australia.
The company recently acquired a majority shareholding in Prism Clinical Research, a 52-bed, early-phase clinical research facility located near the University of Minnesota campus in Minneapolis, MN.
“Whilst Australia continues to be a very attractive destination for conducting Phase I clinical trials, the Australian solution is not always the desired path for all biotechnology and pharmaceutical companies,” said Nucleus Network CEO Cameron Johnson.
“As we expanded the business development team, both within the USA and Asia, we identified and built solid relationships with many companies that we were ultimately unable to service due to our Australian only solution,” he told us.
Now, the company’s acquisition of Prism enables it to service clients in either county, Johnson said.
“Also, Nucleus Network recognizes that that biotechnology and pharmaceutical companies are striving to move their products into patients in much earlier stages of clinical development,” he added.
“As we looked to the US market for Phase I patient capabilities we were very impressed with what Prism have built through its community partnerships in Minnesota and broad range of access to specialist patient populations, particularly hepatic and renal patients.”
As per company integration, the current president of Prism, Jeff Cosgrove, will join Nucleus as vice president of USA. In this position, he will retain management responsibility for the facility.
“Nucleus Network recognizes Prism have built an impressive company culture and delivered safe and high-quality clinical trials to its clients for over 15 years,” said Johnson.
“We are committed to ensuring the core foundations of the business are unaffected by this acquisition and the involvement of Nucleus Network will largely be via the well-established business development teams we have in the USA and Asia.”
