Overview
Clinipace WorldWide, a global digital contract research organization (dCRO), and Paragon Biomedical, Inc., a global, full-service contract research organization (CRO), today jointly announced a definitive merger agreement under which Clinipace WorldWide has acquired all outstanding shares of the privately-held, Irvine, CA-based company and its subsidiaries.
Together, Clinipace WorldWide will double in size to more than 4730 global employees. The combined company has managed over 1,200 clinical research, strategic product development, regulatory, and GxP/CMC/QA projects for venture-backed, mid-tier, and strategic pharmaceutical, biotechnology, and medical device firms.
Significance
The merger will significantly expand Clinipace Worldwide’s therapeutic expertise, site management capabilities, and clinical operations; and extends its global footprint with the addition of offices in Irvine, California, High Wycombe, United Kingdom, and Trivandrum, India.
Bringing these organizations together strengthens Clinipace WorldWide’s already strong oncology franchise with additional therapeutic expertise in the areas of cardiovascular, immunology, infectious diseases, central nervous system, respiratory, dermatology, and medical device clinical research services.
Paragon clients gain access to Clinipace’s proprietary technology (TEMPOTM eClinical platform); and a comprehensive and integrated clinical operations, data management, biostatistics, and regulatory consultancy in North and South America, as well as Europe.
Crosstree’s Role
Crosstree Capital Partners served as Paragon’s investment banker and financial advisor.
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