Citoxlab Group has entered into a definitive agreement to acquire Solvo Biotechnology, a CRO specializing in drug transporter studies and the assessment of Drug-Drug Interactions (DDI). The closing of this operation will take place within the next month. Financial details were not disclosed.
Founded in 1999, Solvo Biotechnology is the international leader in the field of drug transporter research. This field is growing rapidly as the investigation of the transport mechanisms becomes pivotal for drug development. Alongside metabolism data, a thorough knowledge of the drug candidates’ transport is key to identifying potential DDI, in addition to developing an understanding of their pharmacokinetic, pharmacodynamic and safety profile. Transporter studies are a regulatory requirement for entering large clinical trials and then requesting a marketing authorization from health regulatory agencies.
Solvo Biotechnology has a staff of approximately 100 people, located on two sites in Budapest and Szeged, Hungary. Its robust scientific reputation is notably based on many publications in international journals as well as the company’s own publication: ‘The Transporter Book’ which serves as a reference in the transporter research community.
Through this new acquisition Citoxlab reinforces its leading position in the non-clinical CRO field, with consolidated sales of $167 million and a staff of 1,300, spread over nine sites - France (Evreux and Saint-Nazaire), Canada (Laval and Boisbriand), the US (Kansas-City), Denmark (Copenhagen) and Hungary (Veszprém, and now Budapest and Szeged).
"The acquisition of Solvo Biotechnology will allow us to offer the most elaborated in vitro Drug Metabolism and PharmacoKinetics (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. As an example, using in vitro human hepatocytes, the assessment of transport and metabolism is possible at a very early stage of development,” Dr. Jean-Francois Le Bigot, president and CEO of Citoxlab Group said. “These investigations are increasingly included in the selection of lead candidates; in vitro inter-species comparisons now contribute significantly to the selection of the relevant species in safety studies. Naturally, the international scientific reputation of the Solvo Biotechnology team, which performs more than 50% of its projects for US customers, and the dynamism and entrepreneurship of its founder Ernö Duda, also founder of the Hungarian Biotechnology Association, were also key criteria in our decision to acquire Solvo Biotechnology.