Quintiles Acquires Advion BioServices

Quintiles has signed a definitive agreement to acquire Advion BioServices, a U.S.-based bioanalytical laboratory providing GLP pharmacokinetic/pharmacodynamic (PK/PD) testing and other services.

Quintiles will acquire Advion BioServices for an undisclosed amount of cash. The transaction, subject to customary conditions, is expected to close 4Q11. The company will be called Advion Bioanalytical Labs, a Quintiles company.

“Adding a premier bioanalytical offering to our existing CAP-accredited central labs network creates a one-source solution for lab testing across the development spectrum, anywhere in the world,” said Thomas Wollman, senior vice president, Quintiles Global Laboratories.  “We now can offer customers world-class PK/PD testing, molecular screening, drug discovery and metabolism, biomarker discovery, and immunoassay services to inform decision-making early on, helping reduce the risk of failure in expensive later-stage trials.” 

Tom Kurz, Advion BioServices President and co-founder, said: “This transaction is good for Advion, Quintiles and our pharmaceutical and biotherapeutics customers, who will benefit from enhanced efficiency of Advion and Quintiles coupling bioanalytical testing with global sample management, central labs, and clinical trials management.
 

Advion BioServices has more than 180 employees in three U.S. locations: a 33,000-sq.-ft. GLP bioanalytical lab in Ithaca, NY, a 10,000-sq.-ft. GLP immunoassay lab in Manassas, VA, and a 22,000- sq.-ft. discovery and metabolism lab in Indianapolis. Advion co-founders Jack Henion, Ph.D., and Tom Kurz, as well as other key members of the management team including Tim McGrath and Stephen Lowes, Ph.D., will remain involved with Advion Bioanalytical Labs within Quintiles.

Following the sale of Advion BioServices, Advion plans to focus its resources on growing the Systems and Consumables business and be known as Advion, Inc. The company has a pipeline of new products due to be launched in the next six to nine months. The sale of the BioServices business allows for further capital to invest in new products.