BETHESDA, MD – Sept 25, 2018 – Precision for Medicine, part of Precision Medicine Group, has just expanded its global reach through the acquisition of Argint International, a contract research organization based in Budapest, Hungary. The acquisition is part of Precision’s global growth plan; Precision’s European footprint now includes and offices in Edinburgh, Paris, Berlin, Geneva, Budapest, Bucharest, Bratislava, and Belgrade.
Precision’s expanded workforce, expertise, and locations will provide direct support and greater geographic reach for its global oncology, rare disease, and cardiovascular clinical trial operations, as well as increased presence and access to investigators and patients throughout the central and southeastern European regions.
Precision’s full-time staff throughout Europe has now grown to more than 300 employees, allowing the company to fully support pharmaceutical and life sciences innovators in all facets of the business, including specialty lab services, biomarker informatics, clinical trial solutions, diagnostics and medical device services, and biomaterials.
Commenting on Precision for Medicine’s growth, President Chad Clark remarked, “Argint International is an ideal fit with Precision for Medicine. Their commitment to quality and client service, proven over more than a decade of delivering for leading biotechnology companies, is perfectly aligned with Precision’s vision and culture. The addition of the Argint team augments and enhances our European platform, which is critical due to the significant number of customers we have throughout Europe—and also the number of sites and patients seeking novel therapies derived from the benefits of precision medicine.”
“We are thrilled to be joining the Precision for Medicine family,” said Agnes Pinnel, CEO of Argint International. “As part of Precision we join an organization that shares our values, expands our capabilities, and offers growth potential for our people. In particular, we are excited to join with a leader in biomarker-based precision medicine programs, one of the fastest growing and important parts of drug development.”
Fairmount Partners, a leading investment bank worldwide for pharmaceutical, device, and related service businesses, acted as exclusive financial advisor to Argint.
About Precision for Medicine
Precision for Medicine supports life sciences companies in the use of biomarkers essential to targeting patients more precisely and effectively. Precision applies novel biomarker approaches to clinical research that take advantage of the latest advancements in science and technology, focusing predominantly on genomics, immune-response assays, global specimen logistics, biomarker analytics, companion diagnostics, and clinical trial execution. Precision for Medicine is part of Precision Medicine Group, with more than 1,450 employees in 25 locations in the US, Canada, and Europe. For more information, visit precisionformedicine.com.
About Argint International
Argint International was established in 2006 and specializes in supporting small – medium sized biotech companies in clinical development. Argint is currently managing studies across 25 countries and more than 600 investigational sites, including several large phase III programs, each involving between 50 and 130 sites. Reflecting their high level of expertise, 45% of Argint’s permanent staff are MD’s or hold advanced medical or pharmacy degrees. Argint was voted by members of the Pharma-IQ network as a ‘Top Ten’ CRO in 2016. For more information, please visit: argintinternational.com
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment bank 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 125 transactions in 20 countries in North and South America, Europe, Asia and Australia. Further information is available at www.fairmountpartners.com.