Silicon Valley-based global bio-tech company Crown Bioscience, has acquired PreClinOmics, Inc. (PCO), an in vivo preclinical company that specializes in early research in cardiovascular and metabolic diseases (CVMD) as well as renal disease.
Indianapolis, Ind.-based PreClinOmics Inc., formerly known as Genetic Models, Inc., was founded in 1991 by Joe Pesek (CEO) and Richard Peterson, PhD (CSO). Genetic Models was acquired by Charles River Laboratories (NYSE: CRL), and renamed as PreClinOmics Inc. in 2001.
PreClinOmics is an AAALAC Accredited, solutions provider to the pharmaceutical industry including: Discovery Services, Analytical services, ADME/PK services, Safety/non-GLP Toxicology services and genetic models. PCO works with clients in the pharma industry, from large corporations to virtual start-ups.
CrownBio has raised over $100 million in six funding rounds — with the most recent round in May 2014 — from various high profile venture capital and private equity investors, including: Lilly Asian Ventures (a Shanghai-based unit of Eli Lilly & Co. (NYSE:LLY)), Orbimed Advisors, Argonaut Private Equity, Acorn Campus Ventures, Harbinger Venture Management, WR Hambrecht & Co., Singapore’s Majuven, and China’s CID Group, Qiming Venture Partners and China Renaissance Capital Investment (CRCI).
CrownBio’s parent company, Crown Bioscience International (TWSE: 6554), is a newly listed company, registered on the Taipei Exchange Emerging Stock Board since Feb. 2, 2016.
“The acquisition of PreClinOmics will allow CrownBio to create a center of excellence in global translational drug development specifically for cardiovascular and metabolic disease,” said Jean-Pierre Wery, Ph.D., president of Crown Bioscience. “We are confident that the acquisition will ultimately result in greater success in clinical trials and lower the cost of drug development for diseases that produce some of the highest economic costs in the world.”
“PreClinOmics has an excellent track record, and scientific reputation in the CVMD research and pharmaceutical industry, thus this is an outstanding opportunity for CrownBio to expand our capabilities to serve the needs of this community,” said Jim Wang, M.D., senior vice president of CVMD research at Crown Bioscience.
“We are thrilled to join Crown Bioscience. The drug development industry will now have a single source that offers the best models available in both cardiovascular and metabolic diseases,” said Pesek. “We are excited for the opportunities the acquisition has given us, especially with the reputation that CrownBio has earned with the experience and global resources it offers the market.”
Crown Bioscience, Inc., founded in 2006, is a preclinical CRO with expertise in the disease areas of oncology and metabolic disease. The company describes itself as “a global drug discovery and development solutions company providing translational platforms to advance oncology and metabolic disease research.” With an extensive portfolio of relevant models and predictive tools, the company enables clients to deliver superior clinical candidates. CrownBio is headquartered in Santa Clara, Calif., with wholly-owned research facilities in Kannapolis N.C., San Diego, Beijing, Taicang (near Shanghai), and Loughborough, UK. Its state-of-the-art animal vivaria cover over 150,000 square feet and are AAALAC accredited.
With this acquisition, CrownBio will expand its global reach as an end-to-end solution for cardiovascular and metabolic disease research, beyond its existing oncology franchise. PreClinOmics has cutting-edge technologies that support a broad range of study designs, including metabolic syndrome, obesity, diabetes, cardiovascular, renal and neurology.
The acquisition adds to CrownBio’s portfolio some of the most highly translational models to effectively screen compounds for efficacy and reduce the complications of these diseases. Unlike other commercially available models, the models in the PreClinOmics product line develop adult onset type 2 diabetes and all the diabetic complications without relying on mutations in the leptin signaling. Mutations in the leptin gene/receptor have never been identified as relevant to the onset of the human disease.
Charles River Laboratories International, Inc., an early-stage contract research company, provides drug discovery and preclinical development services worldwide. The company is headquartered in Wilmington, Mass. In 1947, a young veterinarian purchased thousands of rat cages from a Virginia farm and set up a one-man laboratory in Boston, overlooking the Charles River. In an effort to fulfill the regional need for laboratory animal models, he bred, fed and cared for the animals and personally delivered them to local researchers. Today, Charles River looks like a very different company, but in realizing Dr. Henry Foster’s vision, the company remains committed to collaboration, responsibility and leadership within the global research community. the company has 8,500 employees worldwide, with 60 facilities in 17 countries