Quintiles, the world’s largest life sciences services and financing firm, is teaming up with Population Genetics Technologies for genetic testing of potential drugs that the company says will make it more widely available and less expensive.
Financial terms were not disclosed.
Population Genetics is based in the United Kingdom.
The companies said they plan to seek opportunities for the use of large-scale genomic analyses to test hypotheses and correlate biomarkers.
“PGT’s technology combined with Quintiles’ global presence can bring the benefits of large-scale sequencing and analysis to virtually all biopharmaceutical companies,” said M. King Jolly, senior vice president of Quintiles Innovation. “The combination of Quintiles and PGT’s capabilities can, we believe, increase the probability of success in clinical trials, reduce trial enrollment required to achieve statistical significance, and diminish the costs and/or time required to bring a product to market – all while improving product differentiation.”
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