Private equity firm Elyan Partners has acquired a controlling stake in cancer and immunology focused-CRO Oncodesign Services with an eye on expansion and acquisitions.
The deal saw ERES IV, the acquisition holding company, take a 61.58% share in Oncodesign services from its main shareholders, including founder Philippe Genne.
Oncodesign provides services from target identification to hit-to-lead and lead optimization through to IND filing. The firm has a team of 227 employees worldwide and claims to have a client base of 600 customers in 33 countries.
The investment marks the end of a period of change at the CRO that began with the separation of Oncodesign Precision Medicine – a biotechnology services focused unit - and Oncodesign Services in July.
According to Genne, the investment will drive growth and expand Oncodesign Services’ geographic reach.
“Over the last few months, we have been able to establish a lasting relationship with Elyan Partners and I am confident that this change will be a development accelerator for Drug Discovery Services that will enable Oncodesign Services to achieve important international commercial successes in the future.
He added that, “A new adventure is beginning, and I am happy to entrust the keys of the Services house to Fabrice Viviani who has demonstrated the full extent of his qualities as the head of the Services BU in recent years.”
Viviani was similarly positive, commenting that “we have solid foundations to capitalize on this momentum, and I am delighted to have the support of the Elyan Partners team, who shares our ambition and desire to continue to grow significantly in a service sector.”
Elyan partner Maxence de Vienne said: “We are delighted to have reached this important milestone and confirm our intention to support the management team of Oncodesign Services in the pursuit of organic growth, possibly combined with acquisitions aimed at increasing the company's scientific expertise, access to other customers or other geographies.”