Encorium Acquires Progenitor

Encorium Group has acquired Progenitor Holdings AG, a Swiss CRO with subsidiaries in Mexico, Panama, Argentina, Chile, Switzerland, India and Hong Kong for cash and stock valued at $2.25 million, with earn-out consideration of cash and stock with a value of up to $2.1 million.

Encorium’s chief executive pfficer Dr. Kai Lindevall remarked, “The acquisition of Progenitor will allow us to offer our clients access to the value of conducting clinical trials in emerging markets such as Latin America, India and Asia Pacific while providing excellent trial management and flexible study delivery. The acquisition provides a key advancement of our strategic goal of becoming the world’s leading vaccine CRO. We believe our combined experience in the vaccine field is the most impressive amongst medium sized CROs and that the potential of the combined organizations is substantial.”