Overview
ClinChoice has acquired CROMSOURCE to expand their CRO capabilities globally.
Significance
Clinical trials continue to become more complex and decentralized as the trend towards specialized and precision medicines grows. Clinical studies require more diverse patient populations, but patient participation continues to decline, especially in the US. Sponsors rely on contract research organizations (CROs) to provide patient enrollment and site identification support, and increasingly demand CROs with significant global reach and broad therapeutic expertise in order to ensure adequate participation and successful execution.
Founded in 1997, Italy-based CROMSOURCE has a proven track record of supporting global pharmaceutical, biotechnology, and medical device clients with clinical research, staffing, and regulatory capabilities. The Company’s geographic footprint across the US and Europe and oncological expertise made it the ideal acquisition target for Hong Kong-based CRO, ClinChoice.
Crosstree’s Role
Crosstree’s global CRO expertise helped ClinChoice identify CROMSOURCE as the ideal partner to expand its global network and strengthen its service offering through:
- Helping ClinChoice find the right partner to complement their existing global footprint,
- Leveraging CRO market expertise to identify the ideal target to drive future growth, and
- Identifying the ideal acquisition target to maximize synergies for all stakeholders
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