Rare Daily Staff
Precision for Medicine Acquires Rare Disease-Focused CRO
Precision for Medicine said it acquired Agility Clinical, a Carlsbad, California-based contract research organization focused on clinical development of rare disease therapies.
“Agility’s expertise in rare and orphan research and its heritage in biostatistics and data management for complex trials are perfect complements to our existing research capabilities,” said Precision for Medicine President Chad Clark. “Agility’s operational strength in California enhances Precision’s ability to support the vast number of dynamic biotech companies throughout the West Coast.”
The acquisition by the Bethesda, Maryland lab service provider combines Agility’s expertise in orphan drug development with Precision for Medicine’s biometric, biomarker, and specialty lab capabilities. The deal reflects the growing interests in orphan drug development
Orphan drugs accounted for nearly half of all drugs approved by the U.S. Food and Drug Administration in 2016, with nearly three quarters of those benefitting from an FDA programs to expedite the drug review process.
The companies did not release terms of the acquisition, but said that Ellen Morgan, co-founder and CEO of Agility, will continue to lead agility.
September 6, 2017