Altasciences: Calvert buy raises status in mid-sized CRO space
Altasciences says the acquisition of preclinical CRO Calvert Laboratories will strengthen its position as a one-stop solution for outsourced early-phase drug development.
Earlier this month, Altasciences acquired East Coast preclinical CRO Calvert Laboratories for an undisclosed fee. Calvert will be fully integrated into Altasciences, taking on the Altasciences name while maintaining its location in Pennsylvania.
“With the Calvert Laboratories acquisition, Altasciences will increase its small molecule expertise as well as offer additional expertise in efficacy pharmacology, ophthalmology, and carcinogenicity study capabilities,” the company told Clinical Insider.
“This new acquisition adds an additional location to our coast-to-coast early phase drug development solution, providing sponsors with more comprehensive preclinical services and more comprehensive end-to-end development program solutions.”
Calvert Laboratories will become Altasciences’ second preclinical facility, with the other located just north of Seattle, Washington.
“The acquisition of Calvert helps to build on our vision which is to be THE one-stop solution for outsourced early-phase drug development, whether for one study or an entire program.”
According to the firm, Altasciences is one of the very few mid-sized CROs, offering the full range of early drug development services.
“With the extensive M&A activity in the preclinical space over the past few years there is a significant gap between the large CROs and the smaller ones… we see ourselves as unique in this sector.”
This is because the CRO space suffers from complexity and long R&D timelines, we were told. “Many sponsors have to engage with multiple CROs to complete their early phase drug development programs. Transferring data, projects, and/or methodologies between CROs and CDMOs, or between different groups within a multi-service CRO/CDMO, takes time, is prone to error, and can lead to prolonged R&D timelines.
“Altasciences is transforming the traditional outsourcing paradigm by making integration and simplicity a priority through something we call Proactive Drug Development. Proactive Drug Development is the combination of real-time data generation, internal structures, a proprietary communication database, custom roadmaps for sponsors, central program management and scheduling, and integrated end-to-end services to make early phase drug development easier and faster for sponsors.”
The Calvert acquisition comes 15 months after Altasciences bought early-stage CRO WCCT Global and small molecule contract manufacturing and analytical services Alliance Contract Pharma, in two separate deals.
And more M&A is likely, says Chris Perkin, CEO at Altasciences:
“Altasciences will continue to develop its portfolio, streamlining the outsourcing paradigm while entering new markets and geographies to offer our clients an even more comprehensive list of options to speed up their early phase drug development.”