Algorithme Pharma Gains a Foothold in Europe Through the Acquisition of a Clinical Research Location in UK
Algorithme Pharma announced that it has achieved its goal of securing a European facility through its acquisition of Simbec Research Ltd in Merthyr Tydfil, Wales. This news comes only six weeks after confirming the purchase of another clinical research centre in Baltimore, Maryland.
According to the company, this acquisition will enable Algorithme Pharma to continue its international expansion plans, establish a foothold in Europefor the very first time in its history and, most importantly, obtain additional advanced scientific and medical expertise for its North American teams.
"Given the considerable growth of our 'international' clientele, it became necessary to acquire a location in Europe in order to better serve our fast-growing market once we had expanded to the United States. The acquisition of this strategically-located and highly-respected clinical research centre is the first step in our European expansion strategy and provides us with an important base for future growth in the European market," explains President and Chief Executive Officer of Algorithme Pharma, Louis Caillé.
Simbec Research Ltd will continue its activities at its headquarters as a new division of Algorithme Pharma. Simbec, along with two other Phase I clinical research centres in the United Kingdom, was recently given the official accreditation by the Medicine Healthcare Regulatory Agency (MHRA), thereby joining a group of companies that has earned the trust of governmental regulatory authorities. The Simbec centre has specialized in Phase I and IIa drug development clinical trials for some thirty years.
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