ICON plc has entered an agreement to acquire Aptiv Solutions for $143.5 million in cash. The acquisition is subject to certain closing conditions.
Aptiv, headquartered in Reston, VA, has operations in 16 countries for the design and execution of adaptive clinical trials for pharma and biopharma companies. The company’s ADDPLAN software supports the design, simulation and analysis of adaptive trials and is used by regulatory agencies, pharma and medical device companies, and academia.
Additionally, Aptiv owns Niphix, an oncology-focused CRO serving both Japanese and international customers. This business will be combined with ICON’s current operations in Tokyo and Osaka. Aptiv also manages medical device trials using its adaptive capabilities.
Dr. Nuala Murphy, president, ICON Clinical Research Services, said, “ICON’s market-leading innovation is helping our customers to reduce the time and cost of drug development. We are achieving this through the combination of our industry expertise and enabling technologies such as ICONIK and Firecrest. Aptiv Solutions’ adaptive trial capabilities will further differentiate and enhance our services to help our customers identify the most promising drug candidates earlier. Their presence in Japan will also broaden our existing capabilities in this market.”
“ICON is the perfect fit for Aptiv Solutions,” said Pat Donnelly, chairman and chief executive officer of Aptiv Solutions. “Our unique technology and expertise in integrated design and execution of adaptive trials, our strength in medical device development and our strong position in oncology in Japan are key areas of differentiation. ICON’s excellence in execution, geographic reach, and shared focus on innovation will position the combined entity as the go-to service provider for design and execution of adaptive trials for drug, diagnostic and medical device companies in a fast growing market.”