WILMINGTON,aaiPharma is acquiring a German-based clinical development team through its European subsidiary.
Terms of the deal were not disclosed.
aaiPharma (Pink sheets: AAIIQ) is acquiring a clinical research team of Rentschler Biotechnologie GmbH & Co. KG, a contract manufacturer of drugs containing recombinant proteins. AaiPharma said it would carry out a number of existing contracts with Rentschler on a subcontract basis. The firms will also work together on a “whole range of their technological and clinical expertise to customers of the pharmaceutical and biotechnology industries,” aaiPharma said.
“The addition of this biotech expertise to our clinical development operation is an important step in strengthening our organization in Europe,” said Ludo Reynders, aaiPharma’s chief executive officer. “It enhances our overall business plan for the biotechnology sector, and Rentschler’s primary and secondary manufacturing capability complements our U.S. sterile manufacturing capability enabling the Company to offer customers both U.S. Food and Drug Administration and European regulatory agencies compliant manufacturing services.”