Sector News

Icon buys up majority of MeDiNova to boost research site footprint

May 29, 2019
Life sciences

Acquisitive Icon is at it again as it snaps up a majority stake in British site network company MeDiNova Research with an option to buy out the remaining shares penned into the deal.

Coventry, England-based MeDiNova Research, a network with research sites in key markets in Europe and Africa, will help Icon boost its geographic footprint and its patient recruitment capabilities while complementing its existing site network in the U.S., known as PMG Research, which it bought back in 2015.

Founded in 2000, MeDiNova is a network of 33 active clinical research sites in the U.K., Spain, South Africa, Poland and Romania. It works across musculoskeletal, respiratory, cardiovascular, dermatology, infectious disease, metabolic, general health and vaccine studies with about 160 employees. It focuses on phases 2 to 4 (postmarketing) studies.

Kumar Muthalagappan, CEO at MeDiNova Research, said: “Icon provides MeDiNova with a great opportunity for continued growth through scaling our knowledge, infrastructures and healthcare relationships. The MeDiNova-Icon combination will further enhance our highly productive models to deliver best in class site performance for the industry.”

Dr. Steve Cutler, CEO at Icon, added: “A successful element of our strategy has been our integrated PMG site network in the U.S. and our ability to grow alliances with third party sites and healthcare institutions in the U.S. and Europe. MeDiNova provides us with a platform to further expand our site network in key EMEA markets and will help us to recruit patients into studies faster. MeDiNova’s experience in operating multiple site models and their strong therapeutic expertise will greatly benefit our customers’ development programmes.”

By Ben Adams

Source: Fierce Biotech

comments closed

Related News

December 3, 2022

Sanofi moves into swanky new Paris HQ designed around hybrid work and sustainability

Life sciences

Monday, the French pharma giant officially moved into its new global home base in Paris, dubbed La Maison Sanofi. The 9,000-square-meter (about 96,875-square-foot) facility comprises two historic buildings and will host around 500 employees, the company explained in a release.

December 3, 2022

As CEO Schultz eyes retirement, Teva taps former Sandoz head Francis as its next leader

Life sciences

On the first day of the new year, former Sandoz chief Richard Francis will take the reins from Schultz, who is hanging up his CEO hat to retire on Dec. 31, Teva said Monday. The news comes a little more than two weeks after Teva publicly said it was looking for Schultz’s replacement.

December 3, 2022

General Electric sets healthcare division spinoff plans

Life sciences

General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. The Boston conglomerate plans to split into three separate public companies by early 2024. Following the healthcare spinoff, it plans to separate its aerospace business from its power and renewable-energy units.