Overview
Citoxlab Group, a leading player amongst non-clinical CROs, announced its acquisition of Solvo Biotechnology, a CRO specializing in drug transporter studies and the assessment of Drug-Drug Interactions.
Citoxlab Group offers a comprehensive range of preclinical services to meet the needs of pharmaceutical, biotechnology, medical device, chemical and agrochemical companies worldwide.
Solvo Biotechnology is a leader in the field of drug transporter research and Drug-Drug Interaction assays.
Significance
Through this new acquisition Citoxlab reinforces its leading position in the non-clinical CRO field.
The acquisition of Solvo Biotechnology allows Citoxlab to offer the most elaborate in vitro Drug Metabolism and PharmacoKinetics (DMPK) services to its customers. Solvo’s services are fully complementary with the in vivo DMPK studies already provided by Citoxlab.
Crosstree’s Role
Crosstree Capital Partners acted as exclusive financial advisor to Citoxlab.
Crosstree conducted a targeted buy-side campaign for Citoxlab and Ardian, the Company’s private equity backers.
After exploring opportunities with several companies in the US and Europe, Citoxlab targeted Solvo as a highly strategic addition.
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