02 October 2014 | News | By BioSpectrum Bureau
The acquisition is to support WuXi's Laboratory Testing Division
Singapore: Pharma and biotech R&D service provider, WuXi PharmaTech, has acquired XenoBiotic Laboratories, a contract research organization that provides bioanalytical, drug metabolism, and pharmacokinetic services to the pharmaceutical, animal health, and agrochemical industries.
The acquisition is to support WuXi's Laboratory Testing Division (LTD) in bioanalytical and DMPK/ADME services, particularly in studies of radio-labeled compounds, while gaining access to new agricultural and animal health customers. The resulting expansion and enhancement of WuXi's integrated service portfolio will accelerate the growth of LTD's business and further strengthen WuXi's position as a leading research and development service provider to the pharmaceutical and biotech industries.
"My colleagues and I are very excited to join WuXi, a global leader in providing drug discovery and development services to the global biopharmaceutical industry," said Dr Jinn Wu, president and chief executive Officer, XBL, who has been appointed Vice President and Chief Scientific Officer of LTD. "We will continue to provide our services to our current clients while also offering expanded services to WuXi's clients."
"We are very pleased to have XBL join the WuXi team," said Dr Ge Li, Chairman and Chief Executive Officer of WuXi. "Dr. Wu has spent the past 27 years building a solid organization and reputation within the industry. This business combination is an important step in WuXi's development of a comprehensive, integrated platform of R&D services to help our customers discover and develop drugs more efficiently and cost-effectively."