O’Melveny Represents Pharmaron in Agreement to Acquire a Majority Stake in SNBL CPCMarch 01, 2017
FOR IMMEDIATE RELEASE
SILICON VALLEY—March 1, 2017—O’Melveny advised Pharmaron, a premier R&D service provider for the life sciences industry, in its definitive agreement to acquire a majority stake in Shin Nippon Biomedical Laboratories Clinical Pharmacology Center, Inc. (SNBL CPC), a leading provider of moderate and highly complex Phase I/II clinical development services for the life sciences sector. Current shareholder Shin Nippon Biomedical Laboratories, Ltd. (SNBL) (TSE:2395) will retain a minority stake in the business following the transaction. This strategic acquisition will allow Pharmaron to be one step closer to offering a full spectrum of R&D services.
The O’Melveny team was led by partner Portia Ku and included counsel Jeff Cislini and associates Wenting Yu and Annie Woodworth.
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O’Melveny & Myers LLP
The following release was issued by Pharmaron:
Pharmaron Acquires Majority Stake in SNBL CPC
Acquisition expands Pharmaron’s integrated offerings to clinical development phase
BEIJING--(BUSINESS WIRE)--Pharmaron, a fully integrated contract research organization offering R&D services to the life sciences industry, today announced that it has signed a definitive agreement under which Pharmaron will acquire a majority stake in Shin Nippon Biomedical Laboratories Clinical Pharmacology Center, Inc. (“SNBL CPC”) in Baltimore, Maryland, USA. This clinical center is a leading provider of moderate and highly complex Phase I/II clinical development services for the life sciences sector. Current shareholder Shin Nippon Biomedical Laboratories, Ltd. (SNBL) (TSE:2395) will retain a minority stake in the business following the transaction.
SNBL CPC is a full-service clinical CRO located on the campus of the University of Maryland BioPark. Since its inception in 2005, over 200 studies have been completed in the purpose-built, clinical pharmacology unit. Many of these completed clinical studies have been submitted in support of global regulatory filings for drug approval for marketing of both small and large molecules. This strategic acquisition allows Pharmaron to be one-step closer to offering a full spectrum of R&D services. Addition of this capability to the Pharmaron Group naturally complements and expands Pharmaron’s existing drug R&D services, further consolidating the clinical development capabilities, through synergistic integration with recently acquired radiolabelled science capabilities, including Quotient Bioresearch’s clinical metabolism in the UK and Xceleron’s AMS-based 14C-microtracer technology in the USA.
Mr. Larry Lou, President and COO of Pharmaron commented: “We are delighted to have SNBL CPC join the Pharmaron Group. This is an important milestone for Pharmaron. Once integrated and further developed, the new clinical platform will fuel the corporate engine for business growth in a sustainable manner. This is another testimony of our determination to fully realize our mission to support our clients’ success in discovery, development and commercialization of important medicines and fulfill our vision to be a global leading organization in the life sciences service industry.”
Dr. Ryoichi Nagata, Chairman and CEO of SNBL commented: “The mission of SNBL CPC has been to offer complex and innovative clinical pharmacology services in close proximity to leading university medical centers. Through this transaction, we look forward to seeing future growth of CPC as part of Pharmaron Group.”
The financial terms of the transaction are not being disclosed.
Teneo Capital served as financial advisor to Pharmaron; O’Melveny & Myers LLP served as Pharmaron’s legal advisor. SC&H Capital served as financial advisor to SNBL; Miles & Stockbridge P.C. served as legal advisor to SNBL.
Pharmaron is a private, premier R&D service provider for the life sciences industry. Founded in 2003, Pharmaron has invested in its people and facilities, and established a broad spectrum of R&D service capabilities ranging from synthetic and medicinal chemistry, biology, DMPK, pharmacology, safety assessment, radiochemistry and radiolabelled metabolism, clinical analytical sciences to chemical & pharmaceutical development. With over 4,000 employees, and operations in China, the United States, and the United Kingdom, Pharmaron has an excellent track record in the delivery of R&D solutions to its partners in North America, Europe, Japan and China. www.pharmaron.com
About SNBL CPC
SNBL CPC is a clinical pharmacology facility located in the University of Maryland BioPark in Baltimore, Maryland, USA. The state of the art facility and equipment is bolstered by a vibrant research community. SNBL CPC specializes in complex Phase I-II trials, including TQT/Phase 1 QT de-risking, first-In-human (FIH), Japanese Bridging and Phase II Proof of Concept (POC) studies in therapeutics areas including immunology/infectious disease, neurology, respiratory, dermatology and more. SNBL CPC conducts clinical trials from multiple sectors, including biopharmaceutical and biotech industry, academia, and the government. SNBL CPC offers full service support of clinical trials through its in-house resources, expert partners from surrounding universities and practices. Proximity and the agreements that SNBL CPC has developed with the University of Maryland, Baltimore and Johns Hopkins University makes this facility best of its kind.
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