George Clinical, a full-service CRO in the Asia-Pacific region, and Vector Oncology, a Memphis-based leader in oncology research and data analytics, announced that George Clinical has acquired Vector Oncology's Pharma Services (CRO) Division. Effective immediately, the transaction has the dual purpose of strengthening the ability of George Clinical to provide scientifically led oncology trial delivery solutions throughout the Asia-Pacific, and, more broadly, to expand George Clinical's operational expertise and scientific leadership in vascular, renal and respiratory diseases, neurology and endocrinology throughout the U.S.
"The acquisition of Vector's CRO Division represents an exciting opportunity for both organizations to combine world-class oncology expertise and well-established US operations with our extensive clinical service capabilities in the Asia-Pacific region," Dr. Marisa Petersen, CEO of George Clinical, said. "George Clinical was one of the first organizations to truly embrace the opportunities of conducting clinical trials across the Asia-Pacific region. As the region has developed into a sophisticated and desirable clinical trial location, so too has George Clinical developed into a highly-adaptable and knowledgeable CRO, both regionally and globally. With the addition of Vector's Oncology CRO Division we will further pursue our strategic growth objectives to provide global oncology capabilities and to extend our ability to deliver early and late phase operational expertise and scientific leadership capabilities deeper into the U.S. and Europe."
George Clinical is headquartered in Australia, operates in 11 countries around the world and has major operational hubs in East Asia, China and India. The acquisition of Vector's Oncology CRO unit will provide George Clinical with a significant US presence, from which operational activities can be led throughout North America and Europe.
"George Clinical provides a great home and fit for our oncology CRO business to continue its rapid growth, and we look forward to continuing a mutually beneficial strategic collaboration between Vector's remaining Health Economics and Outcomes Research (HEOR), Data Analytics and Patient Engagement businesses and George Clinical," Michael Choukas, CEO of Vector Oncology, said.
"The Vector Oncology Pharma Services (CRO) team is excited to become part of George Clinical and to extend our services into new geographies, with leading experts in other chronic disease areas," Sean Hart, executive vice president & managing director of Vector Oncology, said. "It is difficult to find two companies more suited to each other. The marriage of scientific and operational excellence has been a core value of Vector Oncology since the organization’s inception. Dr. Lee Schwartzberg and Dr. Ari VanderWalde will continue in their roles as scientific leaders and consultants in oncology research under the George Clinical banner. We are confident that the foundations of scientific, operational and personal excellence will be continued and strengthened under this new arrangement."
Under the arrangement, Hart will lead George Clinical's U.S. operations and its global late-phase study offerings, building on both George Clinical's extensive expertise in this area and his own experience leading major late-phase CROs.
While the formal acquisition takes effect immediately, there will be no disruption to the services of both organizations, as their activities, values and standard operating procedures are complementary and will be readily integrated into the other.
"This is an incredibly exciting opportunity to strengthen George Clinical's oncology offering and geographic reach. Our two organizations share many similarities in both operational expertise and strategic objectives," Glenn Kerkhof, executive chairman of George Clinical, said. "Tomorrow, it will be business as usual. Although there will be a period of transition over the next few months, we are confident that our staff and sponsors will embrace and benefit from this next phase in George Clinical's growth and development."
George Clinical is an independent, Asia-Pacific-based CRO with global capabilities differentiated by scientific leadership and extensive site networks. With staff operating in 11 countries, George Clinical provides the full range of clinical trial services to pharmaceutical, medical device and biotech customers, for all trial phases, registration and post-marketing trials. George Clinical combines scientific and clinical leadership with expert trial delivery capability to create a distinctive world-class service. In recent years, George Clinical has managed more than 40,000 patients in trials across more than 1,700 sites. George Clinical's parent organization, The George Institute for Global Health, is a leader in chronic disease research, with a global network of experts with whom George Clinical engages.