Overview
Vyteris, Inc. (OTC/BB VYTR) announced that on April 6, 2011, the company closed on its previously announced agreement to merge with MediSync BioServices, Inc., now a wholly owned subsidiary of Vyteris focused on the potential consolidation of high-value, niche contract research organization (CRO), site management organizations (SMO), and related businesses within the $22 billion CRO industry.
Vyteris is the maker of the first active, ready-to-use drug delivery patch (LidoSite), which delivers drugs comfortably through the skin using low-level electrical energy (iontophoresis).
Significance
MediSync advances Vyteris’ strategy for consolidation, growth, and profitability in an established industry with exciting growth potential.
“MediSync’s current and possible future operations intend to potentially serve a growing demand for outsourced clinical research and related services as drug and medical device developers may be attracted to the efficiency and flexibility offered by our CROs,” said Haro Hartounian, Ph.D., Chief Executive Officer at Vyteris.
Financial advisor to MediSync.
The combined company represents a distinct opportunity in the life sciences industry that is guided by a team with a strong track record of value creation.
Crosstree’s Role
Financial advisor to MediSync.
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