Venn Life Sciences has announced the acquisition of Medevol Limited, a CRO business based in Northern Ireland, for a total maximum consideration of £670,000.
The acquisition of Belfast based Medevol further strengthens Venn’s UK operations following the establishment of the UK office earlier in the year. Medevol has been active in the UK clinical trials market since 2001, conducting full-service clinical trials for global pharmaceutical and biotechnology companies. Providing services across Phases II-IV, Medevol has extensive therapeutic experience throughout a broad range of indications.
Commenting on the acquisition, Tony Richardson, CEO of Venn, said: “Medevol is the right fit for Venn as we continue to expand our business across Europe and increase our project pipeline. Venn, Medevol and the CRM business (acquired from CRM Clinical Trials GmbH as announced on 31 October 2013) have a shared global pharmaceutical client and this acquisition affords us the opportunity to develop that relationship as a key strategic account for the group going forward. The skills and talent that we are adding to our company further enhance our reputation as a mid-sized CRO that stays close to its clients, guiding them through the often complicated process of conducting trials across Europe.”