Citoxlab Group acquired Solvo Biotechnology to enhance its preclinical service offerings and strengthen its position in the non-clinical CRO market.
Overview of the Deal
On March 12, 2018, Citoxlab Group, a prominent player in the non-clinical Contract Research Organization (CRO) sector, announced its acquisition of Solvo Biotechnology. Solvo Biotechnology specializes in drug transporter studies and the evaluation of Drug-Drug Interactions, solidifying its standing as a leader in this niche area. Through this acquisition, Citoxlab intends to broaden its portfolio of preclinical services that cater to pharmaceutical, biotechnology, medical device, chemical, and agrochemical companies worldwide.
Target Company Information
Solvo Biotechnology is recognized for its innovative approaches in drug transporter research and conducting Drug-Drug Interaction assays. This acquisition will enhance Citoxlab's current offerings by providing advanced in vitro Drug Metabolism and Pharmacokinetics (DMPK) services, which are complementary to the in vivo DMPK studies already offered by Citoxlab. The combination of both companies' strengths positions Citoxlab as a leading contender in the non-clinical CRO space.
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