To boost its small biopharma, oncology and medical device capabilities
Quintiles has agreed to acquire Novella Clinical (Novella), a full-service clinical research organisation (CRO) focused mainly on emerging oncology customers, for an undisclosed sum.
Novella is headquartered in Research Triangle Park, NC, US, and employs more than 800 people across North America and Europe. It also focuses on customers in the medical device and diagnostic sectors.
Paula Brown Stafford, President, Clinical Development at Quintiles, said Novella’s understanding of emerging companies, as well as the two firms' shared commitment to quality, customer service, 'makes this acquisition a good fit for both organisations'.
Novella says its infrastructure and approach to clinical research were created with the operational needs of its customers in mind, and constructed particularly to support these three specific customer groups. By joining Quintiles, the firm will be able to continue this focus while leveraging Quintiles’ scale and resources to provide new global capabilities to customers.
Richard Staub, President and CEO of Novella, added:'By joining Quintiles, we will be able to extend the geographic reach of our services exponentially while remaining committed to the values and business approach that makes us a great partner to our customers.'
Upon completion of deal, Novella will operate as a unit within Quintiles and be known as Novella Clinical, a Quintiles company.
The transaction, which is subject to standard and customary closing conditions, is expected to close later this quarter.