TKL Research, a dermatology specialty clinical research organization (CRO), has signed an agreement to sell its Clinical Trials Division (CTD) to QuintilesIMS. Upon closing, TKL’s CTD will become part of Novella Clinical, a Quintiles company. Moving forward, TKL Research will retain its Research Clinics Division (RCD) as TKL Research, Inc., which operates full-service inpatient and outpatient Phase I facilities in northern New Jersey.

The transaction, which is subject to standard and customary closing conditions, is expected to close in the fourth quarter of 2016.

“It’s exciting to see CTD take this next step in its strategic growth plan,” said Jon Anderson, president and chief executive officer, TKL Research. “With this deal, we will continue our focus on providing our inpatient and outpatient Phase I services. We look forward to the future of TKL’s Research Clinics Division as we begin to operate independently as TKL Research, Inc.”