MORRISVILLE — Synteract, a drug development company operating in Morrisville, has acquired KinderPharm, a pediatric drug development company, for an undisclosed amount to expand its pediatric drug operation.
Synteract is involved in all stages of drug development and has contributed to over 240 product approvals. Unlike KinderPharm, Synteract develops products to treat a wide age range of patients but is making efforts to focus specifically on pediatric drugs.
“Pursuing our full commitment to pediatric development, we are now integrating Synteract’s existing base of experience and leadership with the focused knowledge and expertise that KinderPharm has provided its clients for many years,” said Synteract CEO Steve Powell.
Synteract
Powell has over 26 years of experience in the pharmaceutical and biotechnology industries. Previously, he held senior management roles at Inc Research and Quintiles.
KinderPharm has offices in Exton, Pennsylvania, and London. It is recognized for the only complete pediatrics clinical trial solution with multiple advanced mathematical and data modeling capabilities.
Founder and CEO of KinderPharm Martin Graham will join Synteract as senior vice president of pediatric development and scientific innovation. He will assume global leadership for Synteract’s Center of Pediatric Development.
The companies indicated trial efficiency as one of the major reasons for the acquisition.
“Given increased regulatory requirements for pediatric trials and the need to advance treatments for diseases that are unique to children, we are pleased to be combining our expertise with that of Synteract’s,” Graham said. “As the leading pediatric [contract research organization], we can offer global capabilities and unparalleled access to sites and patients.”
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
