Monday, August 11, 2008
Earlier this week, we reported news about the Covance–Lilly $1.6-billion deal, but Clinicaltrialstoday.com has learned additional details about the blockbuster transaction between the contract research organization (CRO) and major pharma company from interviews and Wednesday’s investor conference call.
Newark, Del.-based QPS, a provider of research services for the pharmaceutical industry, named Dr. LingSing K. Chen to head its new Translational Medicine department.
“In its Critical Path Initiative, the FDA identified—correctly, we believe—the need for this country to make significant improvements to the process under which new drugs are developed,” said Dr. Ben Chien, QPS president and chief executive officer. “By adding a department of Translational Medicine, we hope to play an integral role in the process of moving research discoveries from the laboratory into clinical practice more rapidly.”
Translational medicine is a scientific discipline that refers to the translation of basic research into new therapies for patients.
“The remarkable growth in our biomarkers business areas led us to consider this path,” Dr. Chien said. “QPS considers the creation of a Translational Medicine department pivotal to providing new technologies to support preclinical and clinical drug development worldwide.”
Chien noted that many QPS clients have already formed Translational Medicine units to facilitate the interaction between basic research and clinical medicine, particularly in clinical trials.
Chien said QPS would combine two existing groups, Immunobiomarker and Molecular Biology, to form the new department. Dr. LingSing K. Chen, former executive director of the Molecular Biology group, will head QPS’ new Translational Medicine department.
“Dr. Chen is a founding member of our Molecular Biology group and has established very diverse capabilities within a short period of time,” Chien said. “She is a determined leader with a great deal of entrepreneurial spirit and I have every reason to believe in the success of our new venture.”
eResearchTechnology (eRT), a provider of centralized ECG and eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device industries, reported second quarter net income jumped 62.5% to 13 cents a share on revenue that increased 43.4% to a record $35.5 million.
Cincinnati-based Medpace, a global contract research organization (CRO), has hired Yong-Xi Li as Executive Director of its new Medpace Bioanalytical Laboratories. This new laboratory is projected to open in fall of 2008 and will complement services provided by other Medpace research facilities, such as Medpace Clinical Pharmacology and Medpace Reference Laboratories.