Citoxlab Acquires Solvo Biotechnology

Citoxlab Group, a non-clinical CRO, has entered into a definitive agreement to acquire Solvo Biotechnology, a CRO specializing in drug transporter studies and the assessment of Drug-Drug Interactions (DDI). Solvo has a staff of approximately 100 people with two sites in Budapest and Szeged, Hungary. Financial terms were not disclosed.
 
The field of drug transporter research is growing as the investigation of the transport mechanisms becomes pivotal for drug development. Alongside metabolism data, a thorough knowledge of the drug candidates’ transport is key to identifying potential DDI, in addition to understanding their pharmacokinetic, pharmacodynamic and safety profile. Transporter studies are a regulatory requirement for entering large clinical trials and then requesting a marketing authorization from health regulatory agencies.
 
With this acquisition, Citoxlab expands its position in the non-clinical CRO space, with consolidated sales of $167 million and a staff of 1,300 over nine sites in France, Canada, the U.S., Denmark, and Hungary.
 
Dr. Jean-Francois Le Bigot, president and chief executive officer of Citoxlab Group said, "The acquisition of Solvo Biotechnology will allow us to offer the most elaborate in vitro Drug Metabolism and PharmacoKinetics (DMPK) services to our customers. These investigations are increasingly included in the selection of lead candidates; in vitro inter-species comparisons now contribute significantly to the selection of the relevant species in safety studies. The Solvo Biotechnology team, which performs more than 50% of its projects for US customers, and the dynamism and entrepreneurship of its founder Ernö Duda, also founder of the Hungarian Biotechnology Association, were also key criteria in our decision to acquire Solvo Biotechnology."

Ernö Duda, president and chief executive officer of Solvo Biotechnology said, "We are very proud that a leader like Citoxlab agreed to invest in our company. We were well aware of their reputation as a science-driven CRO, in particular for strategic decisions and also the respect they have demonstrated for the team and the culture of the companies acquired in the past. I am very confident that joining Citoxlab Group is a good opportunity for the future international development of Solvo Biotechnology and its team. We have already identified several concrete short term scientific and business development opportunities which will allow us to offer our clients an even broader portfolio of assays."

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