Full-service contract research organisation (CRO) Veristat has bolstered its footprint in Europe with the acquisition of The Clinical Trial Company (TCTC Group), also a CRO.
TCTC Group is headquartered in the UK and provides clinical operations, regulatory, personnel and medical services for full-service clinical studies.
It also delivers stand-alone clinical trials for biopharmaceutical firms across the world.
TCTC Group specialises in gene and cell therapy, central nervous system (CNS) and orphan disease trials. It provides clinical research services to companies operating in these therapy areas.
It has executed trials for the first gene therapy approved in Europe.
Commenting on the deal, Veristat CEO Patrick Flanagan said: “Providing superior clinical services with our expanded team will enable us to better manage, recruit and run our clients’ trials on a global scale. In recent years the industry has seen increased funding in CNS and gene therapy research.
“With the addition of the TCTC team, Veristat has bolstered our resources in this critical therapeutic category and obtained a leader in Advanced Therapy Clinical Trials.”
Through the acquisition, Veristat will gain ownership of TCTC Group’s 17 years of expertise in project management and clinical operations in Europe.
Veristat will retain the clinical expert staff and contractors of TCTC Group.
TCTC Group co-founder and former director Ewan Campbell said: “The acquisition by Veristat enhances our capabilities across all our services to proactively address the increased demand from sponsors.
“The combined people and service strengths will make Veristat the CRO of choice for small and medium biopharmaceutical companies who need assistance in bringing complex and novel therapies to patients worldwide.”