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The contract research organization (CRO) has acquired Xenometrics, a non-clinical CRO specializing in preclinical assessment of new drug candidates.
On Oct. 31, 2017, Citoxlab Group announced the acquisition of Xenometrics, a US-based contract research organization (CRO) specializing in the non-clinical assessment of new drug candidates. The financial terms of the agreement were not disclosed.
Xenometrics is a non-clinical CRO offering services in the fields of safety, pharmacology, and pharmacokinetics to the pharmaceutical, biotechnology, and chemical industries. According to Citoxlab, this acquisition reinforces the company’s position in the non-clinical CRO arena, and supports its objectives to expand service capabilities in North America.
“We were actively looking for an investment opportunity in the US as part of our growth strategy. This is important to better serve our US clients, and I am very happy that we have identified the right opportunity with Xenometrics and successfully closed this acquisition,” said Dr. Jean-Francois Le Bigot, Chairman and CEO of Citoxlab Group, in a company press release. “This CRO, created as a spin-off from a large pharma company, has tremendous non-clinical expertise and a strong reputation as a flexible organization capable of meeting the customers’ needs in project management during early development. This is really key, in particular for biotech companies that fight against time in order to reach milestones in their time-sensitive development plans.”
This acquisition is the third one made by Citoxlab in North America, following the acquisitions of the LAB Research Group in 2011 and Accellab in 2016. Most recently, the company acquired a bioanaylsis and biomarkers facility in Laval, Montreal, Canada to support preclinical and clinical programs.
Source: Citoxlab Group