Chinese contract research and manufacturing organization, Pharmaron Beijing Co., Limited has announced the purchase of 100% of the equity of U.S. pharmaceutical firm Absorption Systems for $137.5 million. The purchase is said to enhance Pharmaron’s end-to-end drug R&D service offerings worldwide.

According to sources, the transaction will help the firm create additional value to its partners with Absorption Systems’ proficiency in evaluating gene and cell therapy products in the field of new therapies, and with established services in the ophthalmology and medical devices landscape.

Absorption Systems is one of the leading scientific, non-clinical CROs that provides biotech, pharmaceutical, and medical device firms with research and testing for cell and gene therapies, small and large molecules, and medical device products.

Sources state that Absorption Systems’ key expertise in DMPK/ADME and bioanalysis for both large and small molecules, explicitly in human PK prediction and translational pharmaceutics, will impart Pharmaron’s position in discovery and development of DMPK platform.

Commenting on the acquisition, Dr. Boliang Lou, CEO and Chairman, Pharmaron, said that this purchase validates their commitment to becoming a global leader in drug R&D services firm and will further help expands and strengthens its services and global network with strategic presence in life science hubs in the US.

He added that their firm is fascinated by Absorption Systems’ achievements and high caliber team, and are looking forward to jointly make advancements in the future.

As per Absorption Systems’ CEO & Co-founder, Patrick Dentinger, joining the Pharmaron family is huge opportunity for Absorption Systems. The transaction is amiable news for their customers and employees, and will benefit them with added resources and more comprehensive services offerings through Pharmaron’s global services network.

With Pharmaron, Absorption Systems anticipates embarking on the next phase of its development and better satiate the R&D needs of its clients, said Mr. Dentinger.

Source Credit: https://www.businesswire.com/news/home/20201108005048/en/Pharmaron-Acquires-Absorption-Systems-in-the-USA#:~:text=BEIJING%2D%2D(BUSINESS%20WIRE)%2D%2D,100%25%20of%20the%20equity%20of