Novotech's latest acquisitions grow its US presence and plant a European foothold
Over the past few years, the CRO Novotech has cemented its position in the Asia-Pacific region, but its latest move will see it planting its flag on two different continents.
CBR is a consultancy company focused on guiding pharma companies through FDA requirements and offers services that include regulatory strategy, FDA representation and scientific affairs to support cGMP requirements, among others. The acquisition will now allow Novotech to add US and global regulatory, quality and development services to its arsenal. This includes assisting with submissions such as IND, BLA, fast track and orphan drug applications.
The acquisition of eastHORN gives Novotech a toehold in the European market, allowing Novotech’s clients the ability to access that continent’s markets for wider drug development.
However, the financial details of the two acquisitions were not disclosed, but all employees will now be under Novotech’s banner. EastHORN will retain its name for now and be known as a “Novotech company.”
In an email to Endpoints News, Novotech CEO John Moller said the company has been executing a “global expansion strategy” over the past 12 months. This move, according to Moller, has been driven by the demand of its larger biotech clients, several of which are now undergoing global Phase II projects.
Moller told Endpoints in an email:
We acquired one of our US partners earlier this year, and the acquisition of EastHORN completes the European part of this strategy giving us access to around 30 European countries. We’ve been close partners with EastHORN for well over a decade and we take a similar approach to client service, and we know each other well. While EastHORN operates throughout Europe it has a long history in Central and Eastern Europe, which has some of the attractive patient recruitment characteristics that Novotech enjoys in Asia, as well as some similarities in disease prevalence.
In the US, it now has a space in Boulder, Colorado adding to its existing offices in San Francisco, Boston and Charleston, SC.
Novotech’s expansion drive beyond the Asia-Pacific region started last year as the CRO acquired Charleston-based NCGS in May to expand its global offerings for clients.