CTI Clinical Trial and Consulting Services (CTI) has acquired contract research organisation (CRO) Dynakin, which offers model-driven drug development services.
Dynakin operates a bio lab with 20 years of experience and domestic capabilities across Europe.
CTI intends to boost laboratory services for supporting rare disease and cell and gene therapy research worldwide. The company is setting up a lab in Cincinnati, Ohio, US, and will cover the Americas.
The addition of Dynakin’s laboratory services is expected to cover Europe and the Middle East and Africa (MEA) region.
Furthermore, the drug modelling or pharmacometrics services of Dynakin will support CTI’s Regulatory and Scientific Affairs unit.
These services support and/or validate dosing and regulatory decisions at all development stages, as well as allow the optimal design of clinical trials, CTI said.
CTI will combine the CRO services of Dynakin with its European clinical team. The merger is anticipated to result in a strong global full-service clinical research organisation.
Dynakin’s co-founders Dr Monica Rodriguez and Dr Nerea Leal will be appointed to new roles in CTI to support its growth.
CTI chairman and CEO Timothy Schroeder said: “Dynakin and CTI share common philosophies and cultures, with a focus on teamwork, employee retention and career development.
“We are passionate about continued growth and expansion for the continued success of the company, so this acquisition is a great fit for the next phase of growth at CTI.”
The companies did not disclose the financial terms of the acquisition.
Earlier this month, the EQT IX fund (EQT Private Equity) and Goldman Sachs Asset Management’s Private Equity business agreed to acquire a CRO, Parexel, from Pamplona Capital Management for $8.5bn.
Separately, clinical trial software firm Castor has raised $45m in a Series B financing round led by Eight Roads Ventures and F-Prime Capital, and joined by current investors Two Sigma Ventures and Inkef Capital.
The new financing takes Castor’s total funding to $65m. The proceeds will be used to support product development, especially to scale up direct-to-patient trials.
Castor developed a self-service clinical research platform that researchers can use to design studies and incorporate data from all types of sources in real-time. Patients can self-enrol, consent and share their data.