Clinical research organization Clinipace Worldwide has acquired Swiss company PFC Pharma Focus in a move that extends Clinipace’s global presence.
The acquisition is the third in 18 months and the second this year for Morrisville, North Carolina-based Clinipace. Financial terms were not disclosed.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Zurich, Switzerland-based PFC has offices in Germany, Israel and India. The CRO focuses on drug and medical development, as well as regulatory consulting. The announcement of the PFC acquisition follows financing activity last week in which Clinipace raised more than $8 million in debt financing. CEO Jeff Williams said in a statement that the combination of companies makes Clinipace a global company.
“Together with the PFC team we’re better positioned to serve the needs of our clients by quickly and efficiently scaling to support their global phase 2 to 3 trials across a number of therapeutic areas and indications,” he said.
Williams founded Clinipace in 2003 as a “digital CRO,” or dCRO, to provide clinical trial services through proprietary software. The software is intended to provide pharmaceutical clients a broader suite of services while also reducing staffing requirements, resulting in less-expensive and more-efficient clinical trials. The company’s target customers are mid-sized biopharma and medical device companies who may be overlooked by the largest CROs. Privately held Clinipace’s investors include Hatteras Venture Partners, private equity firm Mario Family Partners and consulting firm Campbell Alliance.
While Clinipace has grown organically, it has also grown through acquisition. Clinipace bought Kansas-based Worldwide Clinical Research in late 2009, which in addition to offices in Latin America also brought Clinipace expertise in oncology. In March, Clinipace acquired Colorado consulting firm Regulus Pharmaceutical Consulting. Clinipace projects its 2011 revenue will top $20 million.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
The PFC acquisition comes amid a wave of merger and acquisition activity in the CRO space. InVentiv Health this week announced it is buying PharmaNet, the company’s second acquisition this year following the purchase of i3 Research. Raleigh, North Carolina-based INC Research earlier this month announced it would buy the larger CRO Kendle in a $232 million deal. In addition to picking up therapeutic expertise, many CROs are aiming to pick up market share and build up the scale they feel is necessary to compete against large CROs such as Quintiles, PPD (NYSE:PPDI) and Covance (NYSE:CVD).
PFC was co-founded in 1992 by Kurt Pfister and Kathryn Voegeli, who join Clinipace’s executive team as CEO of European Operations and COO of European Operations, respectively. Williams will remain CEO and chairman of the combined company. PFC’s Zurich operations now become Clinipace’s European headquarters and Clinipace adds regional offices in Munich, Germany; Tel-Aviv, Israel; and New Delhi, India. Clinipace also has offices in Overland Park, Kansas and Boulder, Colorado. Its South American offices are in Brazil, Argentina and Peru.
