RTP company Quintiles to acquire neighbor Novella Clinical
Biopharmaceutical development company Quintiles will acquire Novella Clinical, a research organization that’s also housed in Research Triangle Park.
Fifteen-year-old Novella serves emerging oncology customers as well as medical device and diagnostics customers, and Quintiles has helped develop or commercialize best-selling drugs on the market, according to Wednesday’s announcement.
Quintiles has supported more than 900 oncology trials over the past decade, said Phil Bridges, Quintiles’ director of communications.
“We have a lot of experience there, but what we’re hoping to do with this acquisition is to enhance that and to bring in some capabilities and approaches that we don’t have at this tiem,” Bridges said.
Acquiring Novella’s address book of emerging oncology and medical device customers will help Quintiles reach that growing segment of the market, he added.
Novella will operate as a unit within Quintiles and will be known as “Novella Clinical, a Quintiles company,” according to the announcement. Novella President and CEO Richard Staub will report to Paula Brown Stafford, president of Quintiles clinical development.
Talk of the acquisition began in early spring, said Novella spokeswoman Jessica Cunningham, and Novella will benefit from Quintiles’ global presence to provide new capabilities to new and existing customers.
“Our customer base has been asking us for global service offerings and that need and request has been growing more frequent over time,” Cunningham said.
Novella has more than 800 employees in North America and Europe, with about 300 based in the Triangle. Quintiles has more than 27,000 employees that work in about 100 countries.
Both spokespeople say their employee numbers will not be affected by the acquisition.
The financial terms of the transaction are not being disclosed, and the transaction is expected to close by the end of September.