AAI Acquires CAC

Nov 03, 2006
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Wilmington, NC (Oct. 26)—AAIPharma Inc. (www.aaipharma.com) completed its acquisition of contract research organization Cvitkovic & Associes Consultants S.A. (CAC, Le Kremlin Bicetre, France). CAC, which specializes in oncology drug development and medical consulting, will form the foundation of AAIOncology, a global business unit dedicated to developing cancer-fighting drugs.

According to Vito Mangiardi, AAI’s president of North American operations, “The experience and expertise brought by our new colleagues in the area of … oncology will significantly strengthen our company’s ability to execute large and global late-stage clinical development programs.”

The acquisition was made possible through a rights offering to existing shareholders and option holders that raised $30 million. The offering was backstopped by a group of principal shareholders led by JPMorgan.

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