Veeda Oncology acquires French CRO

PR Log (Press Release) – May 20, 2008 – Veeda Oncology (Columbus, Ohio) has acquired French cancer trials specialist Biologie et Industrie for an undisclosed sum.  Veeda Oncology is the recently formed specialist subsidiary of Indian early-stage CRO Veeda Clinical Research (Ahmedabad) – see Biopharm Development News 26/4/08.  The company says the acquisition of B&I significantly compliments its capabilities within mainland Europe.

B&I had capital of €285,000 ($440,000) and recorded revenue of €2,421,639 in the year ended March 31st 2007, up 30% on the previous year.  Profit grew to €291,703 from €86,131 in 2006.  Founded in 1984 by cancer specialists Drs Rémy and Sylvie Brossel, B&I was initially a biotechnology firm specialising in monoclonal antibodies.  It later moved towards the service sector, converting to a full-time CRO in 1992 and focusing on cancer, biotechnology and orphan drug research from 1999.

In addition to its office in Vincennes, in the suburbs of Paris, B&I has clinical research and biometry facilities in northern France (Montreuil, Pas de Calais) and a second facility in the south (Arles, Provence).  Dr Rémy Brossel (general manager) and Dr Sylvie Brossel (medical director), will both remain with the company to lead Veeda Oncology’s European operations.  

Veeda Oncology is a full-service CRO conducting Phase I-IV studies.  Company president and CEO Matt Bowman said: “The addition of both Drs Rémy and Sylvie Brossel and their team from B&I will have a great impact on our European presence.  Combining this with our organisation in Gorlitz, Germany allows for significant growth potential within the European market.  In addition, all of our global clients will benefit from the 20 years of oncology expertise that B&I will bring to Veeda.”  

Mr Binoy Gardi, co-managing director of parent company Veeda Clinical Research, said: “the clients of B&I will now be able to enjoy the strong global oncology patient accrual ability that currently exists within Veeda Oncology”.  The move will allow B & I to “add greatly to the capacity that we can provide our clients.  Now, we can effectively provide access to patients in the US, Eastern Europe, India as well as central Europe,” added Dr Rémy Brossel.
Veeda is the largest Phase I CRO in India, with facilities in Mumbai and Ahmedabad; Plymouth, UK; Gorlitz; and Brussels, Belgium.  It provides a full range of services in Phase I and IIa clinical research.