Crown Bioscience expands with PreClinOmics acquisition
The deal boosts the company's portfolio in cardiovascular and metabolic diseases
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SANTA CLARA, Calif.—In a move that expands its footprint in the areas of cardiovascular and metabolic disease, Crown Bioscience Inc., a wholly owned subsidiary of Crown Bioscience International, has announced that it will acquire Indianapolis-based PreClinOmics Inc., an in-vivo preclinical company specializing in early research in cardiovascular and metabolic diseases (CVMD) as well as renal disease and neurology.
Dr. Jean-Pierre Wery, president of Crown Bioscience, commented that, “The acquisition of PreClinOmics will allow CrownBio to create a center of excellence in global translational drug development specifically for cardiovascular and metabolic disease. We are confident that the acquisition will ultimately result in greater success in clinical trials and lower the cost of drug development for diseases that produce some of the highest economic costs in the world.”
PreClinOmics was incorporated in 2001, and is an AAALAC Accredited contract resource organization, with offerings such as Discovery Services, Analytical services, ADME/PK services, Safety/non-GLP Toxicology services and genetic models. Following the acquisition, PreClinOmics will retain its name, specifically as “PreClinOmics, a Crown Bioscience company.”
“PreClinOmics has an excellent track record, and scientific reputation in the CVMD research and pharmaceutical industry; thus this is an outstanding opportunity for CrownBio to expand our capabilities to serve the needs of this community,” Dr. Jim Wang, senior vice president of CVMD research at Crown Bioscience, added in a press release.
PreClinOmics brings with it some of the most highly translational models to effectively screen compounds for efficacy and reduce the complications of CVMD diseases. Unlike other commercially available models, the models in the PreClinOmics product line develop adult onset type 2 diabetes and all the diabetic complications without relying on mutations in the leptin signaling. PreClinOmics' rat models include the ZDSD rat and FATZO mouse for diabetes, both of which are obese and hyperglycemic, as well as pcy and jck mice for polycystic kidney disease, in partnership with the Polycystic Kidney Disease Foundation.
“We are thrilled to join Crown Bioscience. The drug development industry will now have a single source that offers the best models available in both cardiovascular and metabolic diseases,” Joseph Pesek, chief executive officer and co-founder of PreClinOmics, remarked in a statement on the transaction. “We are excited for the opportunities the acquisition has given us, especially with the reputation that CrownBio has earned with the experience and global resources it offers the market.”
SOURCE: Crown Bioscience press release
