Pharmaron Beijing Co., has said that it has acquired 100% of the equity of Absorption Systems for up to $137.5 million in cash. Founded in 1996, Absorption Systems is a U.S.-based leading scientific, non-clinical CRO that provides pharmaceutical, biotech, medical device companies, and regulatory agencies with research and testing for small and large molecules, cell and gene therapies, ocular and medical device products. It has facilities and laboratories in Philadelphia, San Diego, and Boston.
Dr. Boliang Lou, Chairman and Chief Executive Officer of Pharmaron said, “We are very pleased to have Absorption Systems join the Pharmaron Group, and this acquisition, once again, demonstrates our commitment to becoming a global leader in drug R&D services.
The acquisition will help Pharmaon improve its fully integrated, end-to-end drug R&D offerings all over the globe. With Absorption Systems by its side, the company will also deliver more value to its partners by enhancing its capability to evaluate cell and gene therapy products in the rapidly growing field of emerging therapies, combined with the established services in the areas of ophthalmology and medical devices.
Patrick Dentinger, Co-founder and Chief Executive Officer of Absorption Systems said: “Becoming part of the Pharmaron family is a great opportunity for Absorption Systems. The acquisition recognizes the quality and pedigree of the business we founded nearly 25 years ago and the deep scientific expertise of our team.”
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