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Genesis Biotechnology acquires PharmOptima
HAMILTON, N.J.—Genesis Biotechnology Group (GBG), a consortium of an integrated group of biotechnology and research companies, announced that it has expanded its drug development services by the acquisition of PharmOptima. GBG intends to position itself to create and sustain complex research platforms in drug discovery and the design of surrogate biomarkers for chronic diseases.
According to Dr. Ben Bandaru, head of mergers and acquisitions for Genesis Biotechnology Group, “The acquisition of PharmOptima aligns with GBG’s overarching vision to expand its footprint in drug discovery services. We have a history of making ‘best of breed’ acquisitions that add to our capabilities and expand the services for our clients. It was apparent to both [GBG and PharmOptima] that this addition gives our clients the ability to work with one provider for early discovery through preclinical candidate identification, without sacrificing time or talent.”
PharmOptima, a preclinical contract research organization, joins Invivotek and Venenum Biodesign in the existing drug development segment of GBG. This acquisition expands GBG’s catalog of available services, while providing the same high-quality service each company’s clients have grown to expect. Effective with this acquisition, GBG will provide new and existing customers with the added value of a single point of contact for the efficient development and coordination of their unique preclinical drug development program.
“As a customer-centered organization, we value customer experience above all, and preserving this culture is paramount to our integration,” says Bandaru. “There are lots of positive changes that we have already set in motion. There are no layoffs [planned]; on the contrary, we plan to increase the strength of the organization. In addition, the CEO of PharmOptima, Dr. Steven Weber, would become part of GBG’s business advisory board. We are in early process of integration and where appropriate we will redesign client-facing functions to enhance our customer’s experience. We have no plans to either relocate or consolidate the sites.”
Dr. Eli Mordechai, GBG’s CEO, said, “This partnership brings together highly complementary services of three companies, creating a dynamic and efficient enterprise that will enable clients to have access to a comprehensive portfolio of bio-analytical and in-vivo services in multiple therapeutic areas.”
This spirit of collaboration was supported by Weber, who stated, “PharmOptima is excited to become a part of the GBG consortium that will have the synergistic effect of expanding both the breadth and depth of expertise in advancing the drug development activities of our clients and partners.”
“PharmOptima services integrate into our current workflow to complete the discovery pathway, providing assay and reagent development capabilities, ADME/PK and bioanalysis services that ultimately contribute to selection of a de-risked preclinical candidate,” explains Bandaru. “In addition, PharmOptima brings incredible expertise in the growing ophthalmology therapeutics field, further enhancing our services portfolio to meet the growing market demand. As part of our vision, we will continue to broaden our footprint in this space and bring more depth to our existing core services.”