Veristat expands presence in Europe with SFL buy
US CRO Veristat has acquired Solutions for Life Sciences (SFL), a Switzerland-based provider of regulatory support and related services.
The deal – financial terms of which were not provided – will enhance Veristat’s ability to support development of small molecules, biologics, drug-device combination products, medical devices, in vitro diagnostics and advanced therapy medicinal products.
Veristat CEO Patrick Flanagan said, “With scientific advances increasing our understanding of complex therapeutic challenges, our clients increasingly seek a CRO partner with experience in addressing the intricate challenges in program design, clinical trial conduct, and the regulatory approval and commercialization process.”
He cited SFL’s expertise as the primary driver for the deal, explaining “We have been impressed with Shayesteh and the entire SFL team who have a reputation for delivering high quality, precision and value.”
He continued: “Adding SFL’s talented team and services to Veristat’s offering will unlock meaningful potential and strengthen our ability to positively influence the scientific progress, regulatory assessment and launch success for patients with difficult-to-treat diseases and conditions.”
This was echoed by Montse Barceló Riera, Veristat’s vice president of operations in Europe, who said “The acquisition of SFL adds EU, UK and Swiss policy experience in the pharmaceutical sector as well as in the medtech field.”
European expansion
The acquisition is the latest takeover Veristat has made in Europe. In February last year, for example, the firm acquired SQN Clinical, a UK-based biometrics technology provide for clinical trials.
At the time Veristat said the addition of SQN – and its 80-strong workforce – would help it to better navigate the evolving complexities of regulations— in the European region.
More recently, the firm bought a UK based consultancy called Drug Development and Regulation (DDR). It dubbed DDR’s “proficiency in European medical regulations” as the main driver for the deal.
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