Quotient BioResearch, a provider of safety evaluations to the bioscience industries, has purchased drug development specialist BioDynamics in a move that complements its existing drug development capabilities and grows its revenues to £35 million plus.
Quotient BioResearch, a provider of safety evaluations to the bioscience industries, has purchased drug development specialist BioDynamics in a move that complements its existing drug development capabilities and grows its revenues to £35 million plus.
BioDynamics represents the company’s fourth acquisition to date since its inception in early 2007, and its third acquisition in the drug development services sector in the past 12 months. Further acquisitions are anticipated.
Commenting on the purchase, Quotient BioResearch CEO Paul Cowan said: “We have experienced considerable growth in demand for the drug development services we offer. We will be making major investments at both BioDynamics and Quotient BioResearch to further underpin our commitment to meeting the current and future requirements of our clients.”
RBS subsidiary Ulster Bank provided the debt finance, with Ernst & Young’s Belfast office advising on financial matters, and Mishcon de Reya acting as legal counsel.
