Sino-US Contract Research Organization (CRO) ClinChoice Medical Development has announced the acquisition of Cromsource S.r.l., a CRO operating out of Verona, Italy, and North Carolina in the US. Cromsource, founded in 1997, is a full-service, ISO-certified service provider that supports biotechs, pharmas, and medical device companies. Financial details of the acquisition were not disclosed.
Cromsource: A Leading CRO
Cromsource has established itself as a leading provider of comprehensive services to the biotech, pharma, and medical device industries. With its ISO certification and over two decades of experience, Cromsource offers a wide range of services that have been instrumental in supporting the development and commercialization of innovative therapies and devices.
ClinChoice’s Global Expansion
ClinChoice, with corporate headquarters in Pennsylvania, US, and Shanghai, China, views the acquisition of Cromsource as a strategic step in expanding its US and European footprint. This move aligns with ClinChoice’s ambition to become a global CRO, leveraging the combined strengths of both companies to offer enhanced services and support to clients worldwide.
Clinical Trial Experience
ClinChoice has a proven track record, having supported over 1,500 clinical trials to date. The company’s expertise spans a broad range of therapeutic areas, including oncology, central nervous system (CNS), rare diseases, ophthalmology, metabolic, and respiratory conditions. The acquisition of Cromsource is expected to further strengthen ClinChoice’s capabilities, enabling it to better serve its clients’ needs in these and other critical areas.
Future Prospects
The acquisition of Cromsource by ClinChoice represents a significant milestone in the company’s global expansion strategy. By integrating Cromsource’s services and expertise, ClinChoice aims to enhance its service offerings and expand its reach in key markets. This strategic move positions ClinChoice to better support the growing demands of the biotech and pharma industries, contributing to the advancement of medical research and development on a global scale.-Fineline Info & Tech
