Vyteris Acquires MediSync

Vyteris, a drug delivery technology provider, will merge with MediSync BioServices Inc., a privately held company focused on the consolidation of CROs, SMOs and related businesses.

MediSync’s current and planned services include product development, clinical trial management, and data management services for the pharmaceutical, biotechnology and medical device industries. MediSync was formed in 2006 by a group of life sciences executives, and its growth efforts are, according to a company statement, “focused on bringing together established and profitable privately held CROs and related consulting firms to create a specialized cluster of businesses with complementary services that benefit from centralized administration, enhanced access to expansion capital and cross selling capabilities.” MediSync has completed one such acquisition and is in contract to close a second in 2010.

“MediSync has a unique strategy for consolidation, growth and profitabliity in an established industry with exciting growth potential,” said Haro Hartounian, Ph.D., chief executive officer at Vyteris. “MediSync provides us with the opportunity to broaden our corporate strategy, bringing both a revenue platform that limits our longer-term capital requirements and execution expertise to more rapidly develop our pipeline products. The combined company represents a distinct opportunity in the life sciences industry that is guided by a team with a substantial record of value creation.”

MediSync will become a wholly owned subsidiary of Vyteris. Upon closing of the transaction, two MediSync directors will be appointed to Vyteris’ Board of Directors. Two of Vyteris’ current directors, Eugene Bauer and Joel Kanter, are directors of and own minority positions in MediSync, and are the source of introduction of the opportunity to Vyteris.