Commonwealth extends global reach with new deal
Commonwealth Biotechnologies Inc. has struck a deal with PharmAust Ltd. to form a strategic alliance and client referral agreement under which they will co-market their services to the life sciences industry.
RICHMOND, Va.—Commonwealth Biotechnologies Inc. has struck a deal with PharmAust Ltd., an Australia-based biotech services company, to form a strategic alliance and client referral agreement under which they will co-market their services to the life sciences industry. The agreement will provide for ready access of customers to the largely complementary combined capabilities of the two organizations, and reportedly enable better overall solutions to be developed on the demanding timescales required by clients in the life sciences industry. The extended geographic reach brought about by this partnership also will offer a new solution for multinational companies with global service requirements.
"This is one of those true win-win relationships where each company stands to benefit enormously from the added technology offerings and extended global reach. In particular, CBI will now have access to the large and rapidly growing market in the Pacific Rim while PharmAust will be able to offer its drug discovery services in medicinal chemistry and peptide technologies to the CBI's large client base," says Richard J. Freer, chairman and COO of CBI. "Access to PharmAust's direct sales force is also a real bonus. They are highly seasoned and, more importantly, are well versed in selling services such as those offered by CBI," he adds.
PharmAust's managing director, Dr. Paul D'Sylva notes, "This alliance is in line with PharmAust's strategy to work with high-quality partners to enhance the range and depth of our product and service offerings to the global drug discovery industry."
"The integration and co-marketing of PharmAust and CBI's preclinical capabilities offers the industry a single-point of service for early-stage drug discovery and development. This agreement represents an important first step in what PharmAust considers to be a strategically important relationship going forward," Dr. D'Sylva says.
Commonwealth is a solutions provider to the global biotechnology industry, academic institutions, government agencies, and pharmaceutical companies, offering broad-ranging expertise and a complete array of analytical and synthetic chemistries and biophysical analysis technologies.
