Holmes Biopharma, Inc. has signed a letter of intent to purchase an existing pharmaceutical development, clinical manufacture, biotechnology, and analytical laboratory business located in the eastern U.S. The name and terms of the acquisition will be disclosed in the coming weeks.

“This strategic acquisition provides Holmes Biopharma with a profitable subsidiary, secure supply of drug samples for the contract research business, and entry into the drug development business,” stated John F. Metcalfe, president of Holmes.