Deals

Ascent and PharmaLex Merge to Expand Clinical Development Services in Asia

Overview

Ascent and PharmaLex have merged to expand clinical development services in Asia.

Significance

APAC is the world’s fastest-growing pharmaceuticals market: pharma sales in Japan alone are expected to exceed $150 billion by the end of 2022.To access this demand, manufacturers require in-market CROs to execute their clinical development programs. At the same time, emerging APAC-based pharma companies must utilize established global CROs to expand their reach to international markets.

Founded in 2017, Ascent Development Services (Ascent) works with emerging biopharma companies to understand and overcome differences in medical practice, culture, and language in order to achieve the optimal strategic and operational integration of Asia into global drug development programs. Headquartered in Tokyo, Ascent employs staff across China, Korea, Malaysia, the Philippines, Taiwan, Thailand, and Vietnam and provides a balance of country-specific knowledge mixed with strategic advice from a global drug development perspective. The company’s expertise and pan-Asian infrastructure made it the perfect complement to PharmaLex’s broad CRO services portfolio and existing US and EU footprint.

Crosstree’s Role

Crosstree acted as exclusive financial advisor to Ascent in its merger with PharmaLex through:

  • Leveraging deep clinical development and APAC market expertise to identify and evaluate global CROs for partnership potential
  • Presenting the client’s unique value proposition to help them achieve the optimal outcome
  • Helping the client find the right partner to accelerate their growth globally outside Asia

Sub-Sector

Pharma Services

Type

Merger and Acquisition

Deal Tags

Clinical Trials
Cross-border
Pharma Development
International client or transaction
Pharma Consulting