Citoxlab Group (Évreux, France), a leader in non-clinical CROs, has announced it will acquire Solvo Biotechnology (Budaörs, Hungary), a CRO specializing in drug transporter studies and the assessment of drug-drug interactions. This agreement is to be finalized within the next month, the financial details of which have not been disclosed.
Since being founded in 1999, Solvo Biotechnology has become the international leader in the field of drug transporter research. The president and CEO of Citoxlab Group, Jean-Francois Le Bigot, explained: “The acquisition of Solvo Biotechnology will allow us to offer the most elaborated in vitro DMPK services to our customers. These are fully complementary with the in vivo DMPK studies we already provide from our sites in France, the US and Canada.”
Through this acquisition, Citoxlab Group has secured its position as a leader in the field of non-clinical CROs, with consolidated sales equaling $167 million (€136 million) and a staff of 1,300, ranging across nine sites worldwide.
Ernö Duda, president and CEO of Solvo Biotechnology, concluded: “We are very proud that a leader like Citoxlab agreed to invest in our company. We were well aware of their reputation as a science-driven CRO, in particular for strategic decisions and also the respect they have demonstrated for the team and the culture of the companies acquired in the past. I am very confident that joining Citoxlab Group is a good opportunity for the future international development of Solvo Biotechnology and its team.”