Algorithme buys US research unit from BASi

PR Log (Press Release) – Jul 15, 2008 – Canadian CRO Algorithme Pharma (Laval, Quebec) has acquired a US clinical research centre from Bioanalytical Systems (BASi - West Lafayette, Indiana) for US$850,000 in cash.  Algorithme is also assuming certain liabilities relating to the clinical pharmacology research unit, including the lease held by BASi for the facility housing it.  The new unit - in Baltimore, Maryland - gives Algorithme a foothold in the US market.

The CPRU, which will now operate under the name of Algorithme Pharma USA, specialises in Phase I clinical trials and bioequivalence studies.  It includes 46,000 sq ft of work space and 120 beds, of which 20 are in an intensive monitoring unit.  With three separate research units within the facility, Algorithme can carry out a number of studies in parallel, boosting its production capacity by more than 50%, the company said.

Algorithme is a privately held CRO specialising in bioequivalence studies and early-stage development.  It conducts 250 clinical trials a year in multi-unit facilities, including a dedicated Phase I clinic opened in Montreal in September 2005.  The company will retain the core team of 40 employees already working at the Baltimore unit, who will supplement staff at its facilities in Montreal and Laval.  Algorithme now has around 500 staff in total.

The company says it already has a number of US clients and the Baltimore acquisition is seen as “the first milestone” in a US expansion strategy.  It is also part of “a vast development plan to pursue our organic growth in Canada and take advantage of business opportunities that will enable us to diversify on the international scene, both in the US and Europe,” commented president and CEO Louis Caillé.

With the sale of the Baltimore unit, BASi is exiting the market for Phase I first-in-human clinical studies.  The company will now concentrate on its core businesses of contract laboratory services and scientific instruments. Article submitted by www.jobs4dd.com, latest vacancies listed in the clinical research, regulatory affairs and pharmacovigilance industries.