AAIPharma Expands Clinical Development Operations

AAIPharma, Inc. has entered an agreement to acquire Cvitkovic & Associes Consultants S.A. (CAC), an international CRO specializing in oncology drug development and medical consulting, creating an AAIOncology business unit. CAC performs lead assessment of new analogs of established drugs as well as novel target-oriented compounds and has developed expertise in cancer therapies, including cytotoxics, cytostatics, monoclonal antibodies, cell-based therapies, vaccines, antiangiogenic agents, apoptosis inducers and hormonal therapies.

CAC brings to AAIPharma specialized, full-service capabilities in the early-stages of oncology drug development as well as in conducting large international Phase IIb/III studies. CAC is headquartered in Paris, France, and has offices in the U.S., Europe, and Latin America.

“The acquisition of CAC constitutes a major step in building a world class drug development organization that is focused on bringing content-rich and innovative services to its customers worldwide,” said Ludo Reynders, Ph.D., AAIPharma president and chief executive officer. “In addition to expanding the company’s therapeutic expertise, the capabilities of CAC complement the clinical services that AAIPharma currently provides its clients. We are committed to ensuring a smooth transition for CAC’s customers, vendors and employees, and look forward to fully utilizing the new competencies and capabilities that CAC brings to accelerate and enhance the organic growth of our company.”

Professor Esteban Cvitkovic, CAC chairman and founder, stated, “Having established our own model of clinical CRO services based on therapeutic specificity combined with medical and scientific know-how, CAC has now reached the limits of its organic growth. With AAIPharma, we can incorporate our oncology expertise and differentiation into a larger professional organization that shares our vision. The relationship between a CRO and industry must be a bridge between medical needs and new therapeutic possibilities. Passing on the successful critical mass of our efficient worldwide team to a larger structure will allow us to realize our model’s full potential.”

The acquisition is expected to close in the fourth quarter of this year. Financial terms of the all cash transaction have not been disclosed.