RESEARCH TRIANGLE PARK, N.C. – October 26, 2011 – To provide a more comprehensive and efficient global solution for its laboratory customers, Quintiles today announced the signing of a definitive agreement to acquire Advion BioServices, a premier U.S.-based bioanalytical laboratory providing Good Laboratory Practice (GLP) pharmacokinetic/pharmacodynamic (PK/PD) testing and other services.
Under the agreement, Quintiles will acquire Advion BioServices for an undisclosed amount of cash. Completion of the transaction, which is subject to usual and customary conditions, is expected this quarter. At that time it will join Quintiles as Advion Bioanalytical Labs, a Quintiles company.
“Adding a premier bioanalytical offering to our existing CAP-accredited central labs network creates a one-source solution for lab testing across the development spectrum, anywhere in the world,” said Thomas Wollman, Senior Vice President, Quintiles Global Laboratories. “We now can offer customers world-class PK/PD testing, molecular screening, drug discovery and metabolism, biomarker discovery, and immunoassay services to inform decision-making early on, helping reduce the risk of failure in expensive later-stage trials.”
Tom Kurz, Advion BioServices President and co-founder, said: “This transaction is good for Advion, Quintiles and our pharmaceutical and biotherapeutics customers, who will benefit from enhanced efficiency of Advion and Quintiles coupling bioanalytical testing with global sample management, central labs, and clinical trials management.
“Quintiles has a strong, ongoing commitment to exceptional science, long a hallmark of Advion BioServices. Together we can enhance our service offering to customers and expand career opportunities for Advion BioServices’ employees. We look forward to growing our business and better serving customers through access to Quintiles’ global resources, strong business development platform, solid customer relationships, and financial strength for expansion.”
Because of high costs of failure in later phase trials, the industry has shifted toward more thorough lab testing in earlier phases (pre-clinical, Phases I-II). With Advion’s capabilities and expertise, Quintiles can now give customers unique insights early in development.
Timothy McGrath, Executive Vice President, Advion BioSciences Operations and Technology, said: “Adding Advion’s PK/PD testing capabilities and experts further enhances Quintiles’ already significant biomarker testing and PK expertise. Working with Quintiles’ global Phase I network, we can ensure rapid turnaround of bioanalytical/PK data – essential to efficient completion of Phase I studies. Together with Quintiles’ global central labs and Phase I networks we can help biopharma make better decisions faster.”
Advion BioServices has more than 180 employees in three U.S. locations: a 33,000-square-foot GLP bioanalytical laboratory in Ithaca, N.Y. (about 130 employees); a 10,000-square-foot GLP immunoassay laboratory in Manassas, Va. (about 12 employees); and a 22,000-square-foot discovery and metabolism lab in Indianapolis (about 40 employees). Advion co-founders Jack Henion, Ph.D., and Tom Kurz, as well as other key members of the management team including Tim McGrath and Stephen Lowes, Ph.D., will remain involved with Advion Bioanalytical Labs within Quintiles.
Quintiles Global Laboratories supports global and regional trials in almost every country in the world with wholly owned facilities in the U.S., Europe, South Africa, India, China, Singapore and Japan, and a tightly coordinated network of affiliate laboratories in Argentina and Brazil. All Quintiles laboratories operate with uniform instrumentation and standard operating procedures, delivering high quality, harmonized data.
Quintiles is the only fully integrated biopharmaceutical services company offering clinical, commercial, consulting and capital solutions worldwide. The Quintiles network of more than 20,000 engaged professionals in 60 countries works with an unwavering commitment to patients, safety and ethics. Quintiles helps biopharmaceutical companies navigate risk and seize opportunities in an environment where change is constant. For more information, please visit www.quintiles.com.