CATO SMS, which is also headquartered in Durham, is expanding its portfolio of solutions in order to support its clients with drug development. It noted in an announcement that this acquisition will add a set of capabilities that will enable the company to reduce development risk, cost, and timelines.
Factors in the acquisition include Nuventra’s prior track record, its team of staff members, scientists, and consultants, and its work in clinical pharmacology, the company said.
“Their deep and highly specialized scientific knowledge in clinical pharmacology means that we will have more opportunities to support our clients in their drug development journey,” said Mark Goldberg, M.D., executive chairman of CATO SMS. “Pharmacometrics and model-informed drug development offer new and, increasingly, regulatory grade insights that can impact key decision-making and accelerate marketing approval, even eliminating the need for certain trials, in some cases.”
Nuventra’s co-founders, Geoffrey Banks and M. Alexander Shaw will remain at the helm of the new clinical pharmacology line of business, created at CATO SMS
CATO SMS has acquired three businesses in the last two years, and noted in a statement that its goal in doing so is to deepen its oncology and regulatory expertise, bolstering its solutions. It employs about 450 people globally.