Nottingham, UK – February 14, 2017 – Quotient Clinical (“Quotient”), the early phase drug development services provider, today announces that it has acquired QS Pharma, the contract development and manufacturing organisation (CDMO), based in Philadelphia, from Charles River Laboratories International, Inc. (NYSE: CRL). Charles River acquired QS Pharma as part of its 2016 acquisition of WIL Research.
The acquisition increases Quotient’s footprint in the US and, combined with its recent acquisition of SeaView Research, the specialist clinical pharmacology business, paves the way for Quotient to replicate its Translational Pharmaceutics® platform in America.
Founded in 2002, QS Pharma specialises in the formulation development and manufacturing of small molecule drug products, and is capable of supporting customer programs from the early stages of development through to product commercialisation. Of particular relevance is QS Pharma’s capability to work with high potency molecules, which is a fast growing market need.
Mark Egerton, Chief Executive Officer, Quotient, said “The acquisition of QS Pharma further supports our strategy to establish a real presence in the US. Combined with the acquisition of SeaView, we have now increased the scale of the Quotient business to approximately 600 employees, with annualised revenues approaching $100m. We have proven the advantages of Translational Pharmaceutics and we remain focused on continuing to deliver drug development solutions that save our customers both time and money.”
Quotient’s proprietary and unique Translational Pharmaceutics platform integrates clinical testing with formulation development and real-time GMP manufacturing. This innovative approach is increasingly recognised in the industry for reducing clinical development timelines and cutting associated costs. Over 100 leading pharmaceutical and biotech companies have chosen Translational Pharmaceutics to accelerate the development of their products for a variety of indications and routes of delivery.
Nutan Gangrade, Managing Director, QS Pharma, said “We are delighted to join forces with Quotient. Translational Pharmaceutics represents a truly innovative solution that will synergise with our core formulation development and manufacturing services. We have grown our business successfully on the basis of quality and speed, and will continue to do so as part of Quotient.”
Quotient was supported in the acquisition by its sponsor GHO Capital, a leading healthcare investment advisory group based in London. GHO purchased control of Quotient in December 2015, and has now supported 3 acquisitions since then, more than doubling the business in a year.
The transaction was originated by Fairmount Partners, a leading pharma services investment bank, which represented Charles River on the project. Neal McCarthy, the Managing Director for Fairmount Partners commented, “we sold three businesses to Charles River Labs in the past few years, and we were very excited when they invited us to work on their behalf for this project. We thoroughly enjoyed working again with Senior VP Joe LaPlume, and his talented colleagues. Moreover, it was a pleasure to introduce Quotient and GHO to QS Pharma; we are confident that the combination of science and services will be a great success for the customers, managers, employees and owners of the combined businesses.”
About Charles River
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Its dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about its unique portfolio and breadth of services, visit www.criver.com.
About QS Pharma
QS Pharma is recognized as the leading and preferred provider of pharmaceutical product development to biopharmaceutical and pharmaceutical companies. Founded on the tenet of Quality with Speed™, QS Pharma spans the early development process from the screening and identification of New Chemical Entities (NCEs) to providing preclinical toxicology formulations for early phase work through the development, formulation and analytical testing of dosage forms for use in clinical trials and subsequent commercial manufacturing. www.qspharma.com
About Quotient Clinical
Quotient Clinical Ltd. provides drug development services for pharmaceutical and biotechnology customers worldwide, from its headquarters in Nottingham, United Kingdom. Quotient Clinical offers a unique range of services, based on its Translational Pharmaceutics® platform, that integrates formulation development, real-time GMP manufacturing with clinical testing, significantly reducing the time and cost of bringing a drug to market. For more than 20 years, Quotient Clinical has brought innovation to early drug development programs for pharmaceutical companies worldwide. www.quotientclinical.com
About GHO Capital:
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a specialist healthcare investment adviser based in London. Its vision is to apply global capabilities and perspectives to build a world-class healthcare specialist private equity firm by recognising and seizing the highly attractive and underpenetrated European market opportunity. GHO has a powerful combination of transaction, investment and industry skills which sets it apart from traditional private equity firms. For further information, please visit www.ghocapital.com
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment banker worldwide for pharmaceutical, device and related services businesses. Fairmount provides merger and acquisitions advisory services, and assists companies to raise funding for acquisitions, growth and liquidity. Fairmount’s Pharmaceutical Services Group has assisted clients to complete over 115 transactions in 18 countries in North and South America, Europe, Asia and Australia.
Principals of Fairmount Partners acted as advisors to QS Pharma in this transaction.
Further information is available at www.fairmountpartners.com