Frontage Laboratories has acquired Accelera Srl’s bioanalytical and drug metabolism and pharmacokinetics businesses.
The deal – financial terms of which were not disclosed – includes the Italian clinical research organization’s (CRO’s) discovery, preclinical and clinical bioanalysis business. The acquisition was carried out by Frontage through its wholly-owned local, subsidiary Frontage Europe Srl.
CEO Abdul Mutlib cited the acquisition as the next stage of Frontage’s plan to expand in the European Union (EU).
"We envision this strategic acquisition as a first step in establishing Frontage's footprint in Europe, with the intent of adding other service areas in the continent. We believe both existing Frontage and Accelera clients stand to benefit greatly by leveraging Frontage's increasingly global platform.”
Mutlib also hinted about expanded collaboration with Accelera, commenting “we are looking forward to partnering with the remaining Accelera business on exciting opportunities to service clients across our organizations."
This was echoed by Frontage founder and chairman Song Li, who said “We are very enthusiastic about working together as we further develop the Frontage platform in Europe, starting from a footprint in the Biopark in Nerviano Lombardy, where Accelera and Nerviano Medical Sciences Srl have already established a long-standing and efficient value chain.”
Accelera CEO Luca Leone was similarly upbeat about relations between the two firms.
“This unique occasion opens up new horizons for collaboration and growth. On one hand, we will further focus on offering top-notch In-vivo for multiple emerging modalities. At the same time, we look forward to exploring exciting opportunities to serve our clients across continents through our ongoing collaboration.
“This partnership reflects our commitment to advancing research and providing innovative solutions in the European market and beyond,” Leone said.
The takeover is the first completed by Frontage since its acquisition of Canadian CRO Nucro-Technics Inc. and its affiliate Nucro-Technics Holdings, Inc, in August last year.
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