Wednesday, September 23, 2009
Bethesda, Md.-based contract research organization (CRO) United BioSource Corporation (UBC) acquired computerized cognitive testing services company Cognitive Drug Research (CDR) for an undisclosed sum. With the addition of CDR’s cognitive testing services, UBC plans to create an integrated solution to reliably assess cognitive function—a service that UBC said is needed in the clinical trial industry.
BioClinica’s September buying spree continued this week with the announcement that the Newtown, Pa.-based contract research organization (CRO) had purchased technology company Tourtellotte Solutions for $2.1 million in cash, plus additional payments in the form of up to $3.2 million in cash and 350,000 shares of BioClinica common stock if certain milestones are met.
Clinical trials offices (CTOs) have sprung up in academic health centers across the country, but the roles these offices serve vary widely from center to center, according to a new report.
Revenues continue to fall at MDS Pharma, the contract research arm of Toronto-based MDS. Third-quarter 2009 net revenues fell 28% from the same period last year, dropping to $49 million from $68 million. The year-over-year decline was a result of decreased demand for phase I and bioanalytical services, the company said.