US-based Crown Bioscience acquires Nottingham oncology spin-out.
Crown Bioscience has acquired University of Nottingham spin-out Preclinical Oncology Services (PRECOS) for an unspecified sum.
The deal will add PRECOS’ expertise in oncology pre-clinical research and development services to Crown. As a result, the California-based firm will become one of the world’s largest suppliers of oncology services with bases in the US, the EU, and Asia.
Jean-Pierre Wery, president of Crown Bioscience said: “The acquisition represents the next step in expanding the range of specialized services we offer pharmaceutical and biopharmaceutical customers worldwide. PRECOS has unique clinically relevant models, which reflect the patient situation for each aspect of cancer progression, encompassing pre-cancerous lesions, primary tumours and metastasis.”
Neil Rotherham, chairman of PRECO, added: “The acquisition of PRECOS by Crown Bioscience will enable PRECOS to continue expanding its business as part of a larger organization, giving Crown Bioscience clients access to PRECOS’s unique and growing panel of Patient-Derived Xenograft (PDX), orthotopic and metastatic modelling and imaging services. Our innovative models and expertise provide a perfect complement to Crown Bioscience’s robust panel of models and services, and our geographical location provides a European hub for Crown Bioscience’s rapidly expanding client base in Europe. The security of being part of a larger, global and rapidly growing organization like Crown Bioscience will enable us to continue to invest in providing leading-edge model development services to the wider oncology drug discovery community.”
