US-based trial site group Velocity Clinical Research has acquired UK counterpart Egin Research in a deal design to expand its European reach.
The agreement – financial details of which were not disclosed – will add two clinical research sites in High Wycombe, Buckinghamshire and North Finchley, London - to Velocity’s network of 42 locations.
Velocity’s Dominic Clavell - executive vice president, Europe – pointed to the UK’s role in Europe’s drug research sector as a motivation for the acquisition.
“The size and importance of the UK market for clinical research cannot be underestimated. There is a focus on clinical trial regulation reform in a post-Brexit era to bring new treatments to patients faster.”
Clavell cited the UK’s role in fighting the coronavirus pandemic as an example, adding that the additional capacity will help Velocity capture a greater share of demand.
“The region significantly contributed to COVID vaccine research, leading to the UK Government's recent £800 million cash injection into the clinical trials industry to boost innovation, growth and patient safety.
“Velocity’s global scale and timely expansion into the UK means we are primed to take full advantage of the growing dedicated clinical research ecosystem and demand.”
Shivagami Muthiah, business director at Egin Research, predicted that the merged organizations will expand further over the next few years, commenting that “with Velocity’s support we will be able to accelerate our plan to expand the network, making clinical trials ever more available to patients.
“Egin has plans for continued growth on the back of their early successes, as it integrates into Velocity’s global network. With support from Velocity, Egin will expand its therapeutic areas to recruit patients into trials for all ambulatory chronic diseases and some acute diseases.”
The acquisition comes months after Velocity bought German study trial site organization, Clinical Research Hamburg.