Pharmaron Acquires Majority Stake in CR Medicon

Pharmaron Acquires Majority Stake in CR Medicon

Expands Pharmaron’s integrated offerings to clinical development in China

Beijing, China, May 21, 2019  - Pharmaron, a fully integrated contract research organization offering R&D services for the life science industry, announced today that it has completed a follow-on investment in CR Medicon Holding Inc. (together with its wholly owned subsidiary, Nanjing CR Medicon Pharmaceutical Technology Co., Ltd. “CR Medicon”), a clinical CRO based in Nanjing, China. As such, Pharmaron holds majority ownership of CR Medicon after this transaction. This investment follows the path of Pharmaron’s previous strategic investments made in CR Medicon in 2018, reflecting its continued confidence in CR Medicon and strong commitment to clinical development service.  It demonstrates Pharmaron’s global clinical development service strategy, together with its US-based Clinical Pharmacology Center (CPC), to create additional, synergistic value for domestic and international partners.

Dr. Boliang Lou, Chairman and CEO, Pharmaron, commented, “We are delighted to have CR Medicon join the Pharmaron family. This transaction will set up a new business line in China for Pharmaron and facilitate the full realization of Pharmaron’s global clinical development service strategy.  The synergy is generated through close interaction among our clinical service offerings in China, US and UK and will help us better serve our partners.  In addition, it accelerates our clinical development process and creates additional value for our partners, employees and stake-holders.”

Dr. Henry Wu, CEO, CR Medicon, commented, “CR Medicon has been striving to provide high quality clinical services to our partners. We are excited to become a member of Pharmaron Group as this will allow full integration with its global R&D platform to better serve the pharmaceutical R&D community.”

By combining both parties’ capabilities in clinical development services area, this transaction expands Pharmaron’s fully integrated drug discovery and development service platform.  This arrangement further demonstrates the company’s commitment to becoming a global leader in the life science service industry. Pharmaron continues to uphold its original aspiration to support partners’ success in discovery, development and commercialization of innovative medicines.

About Pharmaron

Pharmaron is a public-owned, premier R&D service provider for the life sciences industry. Founded in 2004, 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 pharmacology, clinical analytical sciences to chemical & pharmaceutical development. With over 6,500 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 MedIcon

CR MedIcon is a full-service clinical CRO that was established in 2017. Its current service areas include regulatory affairs, medical affairs, clinical operation, clinical data management and biostatistics, pharmacovigilance, and bioanalysis of clinical samples to support the needs from clinical trials for innovative drugs and devices. 

www.crmedicon.com

 

For further information please contact: 

Fiona Ge, Sr. Director, Securities Affairs, Tel +86 10 573 30255, fiona.ge@pharmaron-bj.com

Ellen Cabral, Director, Global Marketing, Tel: +1 617 901 2216, ellen.cabral@pharmaron.com