LAVAL, QC, Canada – October 1, 2018 – Altasciences today announced the completion of the acquisition of a preclinical testing business in Everett, Washington. This transaction will support Altasciences’ goal of being a mid-sized CRO that will provide talent and scale to support the preclinical and clinical markets while creating a new outsourcing paradigm for its clients. Altasciences is a contract research organization with a unique focus on supporting drug development from lead candidate selection to proof of concept. Altasciences encompasses Algorithme Pharma in Montreal, QC, Vince & Associates Clinical Research in Overland Park, KS, Algorithme Pharma USA in Fargo, ND, and Altasciences Preclinical Services in Seattle, WA.
“Expanding our services to include preclinical safety testing was a natural progression for Altasciences and the perfect complement to our current offering. With the extensive preclinical and clinical experience of our management and scientific teams, we knew we had a unique opportunity to work towards creating a strategic combination of services that would make the outsourcing process for our clients easier and more cost effective, while shortening the timeline to proof of concept,” stated Chris Perkin, Chief Executive Officer of Altasciences.
Transferring data, projects and/or methodologies between CROs, or between different groups within a multi-service CRO, can take time, is prone to error, and can lead to prolonged R&D timelines. Altasciences is looking to address these challenges through the integration of strategic acquisitions, such as the SNBL U.S.A. preclinical business. The result will be a fully integrated offering, improving ‘speed and ease’ throughout early stage development by carrying best practices across services along with the addition of platforms that support integrated data capture and program management, allowing for quicker, more proactive development timeline adjustments and decision making to improve R&D efficiency for biopharmaceutical customers.
“Our customers have told us that they see value in carrying learnings from preclinical studies through to trial design decisions in the early phases of clinical development. Our strength in Phase I trial conduct and support, our extensive bioanalytical capabilities and our track record of customer service are the perfect foundation for adding preclinical safety testing capabilities.” added Chris Perkin.
Fairmount Partners, a leading investment bank for pharmaceutical, device and related services businesses, acted as financial advisor to Altasciences. Fairmount assisted Altasciences in its 2017 recapitalization by Audax Private Equity and Altasciences management. Neal McCarthy, Managing Director of Fairmount, commented, “Before their tremendous success in clinical trials at Altasciences, Chris Perkin and many of his top managers ran one of the largest and best preclinical research operations in the world – the depth of their experience in both preclinical and early clinical research is unique, and makes them the perfect team to design and implement a suite of services bridging discovery to proof of concept”.
Altasciences Clinical Research is a mid-size contract research organization that encompasses Algorithme Pharma in Montreal, QC, Vince & Associates Clinical Research in Overland Park, KS, and Algorithme Pharma USA in Fargo, ND, with an overall company focus on supporting early-stage drug development. With over 25 years of industry experience, Altasciences provides clinical services to an international customer base of biopharmaceutical companies. Altasciences’ full-service solutions offering in this critical stage of drug development includes clinical pharmacology, medical writing, biostatistics, data management and bioanalysis.
About SNBL USA
SNBL USA is renowned for its diverse range of safety assessment services and NHP expertise. Our enthusiasm for customized services that focus on the needs of our clients positions us as the uncommon CRO: uncommonly accessible, flexible and responsive. Located just north of Seattle, WA, our team of experts in Toxicology, Pathology, Exploratory Research and Bioanalysis make the client relationship a top priority. For us, we believe the experience is as important as the science that drives it.
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 19 countries in North and South America, Europe, Asia and Australia. Further information is available at www.fairmountpartners.com.
Contact: Neal McCarthy