Frankfurt, Germany-based contract research organization (CRO) Ergomed Group has opened a new regional headquarters in Dubai City's new life sciences research park, DuBiotech. The company plans to use the office as a hub for its operations in the Middle East and India. The company’s main headquarters is located in the Frankfurt Biotechnology Innovation Center, which has collaborated with DuBiotech since 2005. The center brought the CRO and DuBiotech together to discuss the opportunities in Dubai and an agreement was made just a few months later. The 20 million square-foot space, or nearly one square-mile, was set aside by the Dubai government for the research park to attract international research and development companies to do business in the Dubai emirate, a state within the United Arab Emirates.
Averion Buys Hesperion
Southborough, Mass.-based contract research organization (CRO) Averion International acquired Swiss-based CRO Hesperion AG from its French parent company Cerep SA. Averion will pay $36.2 million forvthe company. To finance the acquisition, Averion issued three-year senior secure notes on the company’s current debt. The debt financing raised $24 million towards the purchase. Phillip Lavin, Ph.D., resigned as chief executive officer of Averion on Oct. 31, and was immediately appointed as executive chairman of the company. He was replaced by Hesperion’s chief executive officer Dr. Markus Weissbach, who was appointed head of Hesperion in September 2006.
