The NJ-based dermatology contract research organization (CRO) Cu-Tech “quickly piqued” Synteract’s interest as a way to complement its experience, Synteract chief commercial officer (CCO) Jack Shannon told us.
“In continuing to deliver on our core strategy of developing highly-expert therapeutic areas of focus through our recently announced centers of development, we, at Synteract recognized our strength in dermatology as another potential top area to concentrate on,” he said.
Earlier this year Synteract created “therapeutic centers of development” as it looks to deepen its footprint in the mid-sized CRO market. The centers of development include oncology, pediatrics, neuro-degenerative disorders, as well as rare and orphan diseases – and now, dermatology.
Combined, Synteract and Cu-Tech have managed more than 250 dermatology trials.
With the acquisition of Cu-Tech, Shannon said, “We are expanding our existing expertise and formally announcing a center of development in this space, making the combined company the leading midsized global CRO for dermatology clinical trials.”
Additionally, the acquisition – which closed June 29, 2018 – gives Synteract another office in the North East.
As per integration, Shannon said it will simple, with no reduction in Cu-Tech employees anticipated. “Cu-Tech is coming on as a part of Synteract, and we are looking forward to keeping the employees and processes intact to continue the good things they are working on,” he added.
William Cunningham, Cu-Tech founder and president, will retire. Kathleen Ashenfelter, who currently leads the Cu-Tech team, will continue in this position and serve as the head of the dermatology center of development for Synteract and Cu-Tech.
The Cu-Tech brand will be retained for a period, Shannon explained, “while we give the industry time to recognize that Synteract and Cu-Tech have come together to become an integrated entity providing dermatology CRO expertise.”
“At Synteract we are committed to helping clients bring clinical trials to life and addressing their challenges in areas where they have a greatest need,” he added. “This latest announcement expands on our strategy to focus on key areas where we can best help sponsors bring new medicines to market.”