CAMBRIDGE, England, June 25 /PRNewswire/ --
- Acquired Business to Provide Quotient-Amersham Radiochemicals Branded Products and Services - Major Investment in new radiochemicals facility to be Located in Cardiff, Wales
Quotient Bioresearch Limited (Quotient), a leading provider of drug development services, announces that it has reached an agreement to acquire Amersham Radiolabeling Services (Amersham Radiolabeling Services), the radiochemical custom synthesis operations of GE Healthcare. This represents Quotient's seventh acquisition since its formation in early 2007.
Quotient Chemistry Metabolism
Amersham Radiolabeling Services offers an established bespoke service for the custom synthesis of carbon-14 and tritium labelled compounds to the pharmaceutical and biotechnology industries. The operations and staff of Amersham Radiolabeling Services will combine with the radiochemistry and metabolism activities of Quotient Bioresearch to form a new strategic business unit - Quotient Chemistry Metabolism. The Cardiff-based group will provide Quotient-Amersham Radiochemicals branded products and services. Combined the business will serve over 250 clients across the world.
This acquisition reinforces Quotient's commitment to providing a seamless synthesis to clinical study report capability to pharmaceutical and biotechnology clients engaged in studies containing radiolabeled compounds. This integrated service will simplify the procurement of regulatory and non-regulatory studies, resulting in shorter development times and associated efficiencies.
The enlarged Quotient business will offer clients a unique service combining: - Manufacture of custom radio-labelled drug compounds; - A full range of in vivo and in vitro metabolism studies covering all FDA guidelines; - Clinical studies, including Human AME studies, ivMicrotracer(TM), and Phase 0 microdosing studies; and - A broad range of bioanalytical services
Quotient's Chairman and Chief Executive Paul Cowan said This acquisition and the formation of Quotient Chemistry Metabolism represents a major step in the building of the Group's integrated approach to metabolism and carbon-14 enabled drug development capability. We are uniquely placed to offer our clients standalone services or a fully-integrated service offering in this area, with all the associated benefits.
New facility in Cardiff
In support of the acquisition of Amersham Radiolabeling Services, Quotient plans to invest up to GBP15 million in a new state-of-the-art-laboratory in Cardiff. Completion of this new facility is timed to coincide with GE Healthcare ending its radiolabeling operations at the end of March 2010, thus minimizing any impact on customers. Approximately 75 Amersham Radiolabeling Services scientific and commercial staff with over 1,000 combined years of experience in the custom synthesis of radiochemicals will transfer to Quotient.
To ensure continuity of service to customers, the transfer of operations and staff will take place in three stages. From today the global sales operations will transfer to Quotient, with the tritium and carbon-14 radiolabeling services transferring to Quotient by the end of 2009 and March 2010 respectively.
Following completion of the new Cardiff facility, Quotient will have over 600 staff across its UK facilities. With its existing strong client base in Europe, the US and Japan, the principal focus of Quotient Bioresearch will be to provide a unique and comprehensive range of early-stage drug development services to a broad range of customers.
Stephen Lewinton, current Managing Director of the Drug Development Services Group at Quotient, has been appointed as the Managing Director of Quotient Chemistry Metabolism.
About Quotient Bioresearch
Quotient Bioresearch is part of Quotient Bioscience Group, which comprises Quotient Bioresearch, HFL Sport Science and Quotient Biodiagnostics. Quotient Bioresearch provides a range of specialist, early-stage drug development services; HFL Sport Science is the world's premier drug surveillance and doping control laboratory for sport; and Quotient Biodiagnostics is one of the world's leading manufacturers of monoclonal reagents for blood typing. Quotient Bioscience has grown rapidly in the past three years, through a combination of both acquisition-led and organic growth.
For further information: http://www.quotientbioscience.com.
Media Contacts: Paul Cowan, Chairman Chief Executive Officer, Quotient Bioresearch +44-1638-720-500 Stephen Lewinton, Managing Director, Quotient Chemistry Metabolism +44-1638-720-500 Gordon Cameron, Chief Financial Officer, Quotient Bioresearch +44-1638-720-500
Media Contacts: Paul Cowan, Chairman Chief Executive Officer, Quotient Bioresearch, +44-1638-720-500; Stephen Lewinton, Managing Director, Quotient Chemistry Metabolism, +44-1638-720-500; Gordon Cameron, Chief Financial Officer, Quotient Bioresearch, +44-1638-720-500