Novotech is a contract research organization (CRO) that is primarily focused on the Asia-Pacific region, specializing in working with the biotech sector. However, the company stated that the acquisition of EastHorn was part of its ‘global expansion program’.
The investment brings EastHorn’s 250 employees under Novotech management, as well as their presence in over 30 countries in Europe.
According to EastHorn, its primary focus began in the Central European region, before expanding into both Western and Eastern European countries.
EastHorn outlines that it has worked in every major therapeutic area, and can provide clinical, services from Phase I through to Phase VI, with capabilities including regulatory, pharmacovigilance, and data management, among others.
Despite being acquired, EastHorn will retain its brand name, working under the Novotech umbrella. The company’s executive chairman, Iain Gordon, stated that being acquired would allow the EastHorn to manage trials in Asia, Middle East and Africa, and in the Americas. Gordon noted that the CRO predominantly works with biotechs, and small- to mid-sized pharma companies, and therefore has a similar approach to Novotech.
Novotech’s CEO, John Moller, said, “This acquisition is a strategic move to further expand our CRO operations and provide biotech clients with in-country expertise across Asia-Pacific, North America, and Europe to deliver their global drug development programs.”
Miller also noted that the two companies “share a culture of clinical excellence in biotech drug development,” with experience of working together over the last 15 years.
A global expansion
Only a few days prior to the announcement of the acquisition of EastHorn, Novotech revealed it had acquired CBR International, a global product development, clinical oversight, and strategic regulatory operations group.
CBR is based in the US, and would provide Novotech with expertise in US and global regulatory, scientific, quality, and clinical development services. Novotech outlined that the addition to its company would provide specific regulatory expertise in US Food and Drug Administration (FDA) submissions, including IND, IDE, NDA, BLA, Fast-Track, Break-through, and Orphan Drug Applications.
CBR is located in Boulder, Colorado, and has approximately 45 professionals working across its expertise areas. Over the last two years, the company outlined that it has handled 23 dossiers for applications to the FDA, as well as nine original applications, and over 900 submissions to regulatory authorities.
The financials involved for both of the acquisitions were not revealed.
