The deal, terms of which were not disclosed, will see CTPS’ 60,000 sq ft laboratory, quality assurance and animal housing complex in Taipei City operate as a unit of the US contract research firm’s QPS-Taiwan subsidiary.
QPS CEO Vincent Yen set the acquisition in a wider market context, explaining that: "The biotech industry in the Asia Pacific region is expanding rapidly.”
"With the addition of a well known toxicology unit to our established bioanalytical and pharmacokinetic expertise, QPS can now provide a one-stop solution to the increasing local and international demand for high quality preclinical services.”
The CTPS was set up by Taiwan’s Development Center for Biotechnology (DCB) in the late 90’s to provide preclinical testing services for government, academic and industrial groups working in the country’s drug sector.
The facility has conducted over 890 studies for local and international developers, including 17 projects for US submissions, 18 for Taiwan IND submissions or clinical trials and 2 products seeking Taiwan NDA approval.
QPS established a partnership with the DCB in July 2009 focused on preclinical testing services as part of the Taiwan Government’s bid to double the value of the country’s NT$150bn (€3.3bn) a year biotechnology sector.
Asian expansion
The acquisition is the latest in a series of expansions QPS has made in Asia in the last few years that began with the opening of its Taipei bioanalysis laboratory facility in 2004.
But, while Taiwan has certainly been a focus, QPS has also been building in other countries in the region, as evidenced by its acquisition of a majority stake in Indian CRO Bioserve Clinical Research last month.