(Santa Clara, Calif., March 1, 2016) — Crown Bioscience, Inc., a wholly owned subsidiary of Crown Bioscience International (TWSE:ticker 6554), a global drug discovery and development solutions company providing translational platforms to advance oncology and metabolic disease research, has announced the acquisition of PreClinOmics, Inc., an in vivo preclinical company that specializes in early research in cardiovascular and metabolic diseases (CVMD) as well as renal disease. With this acquisition, CrownBio adds to its portfolio some of the most relevant CVMD models to replicate human disease.
“The acquisition of PreClinOmics will allow CrownBio to create a center of excellence in global translational drug development specifically for cardiovascular and metabolic disease,” said Jean-Pierre Wery, Ph.D., president of Crown Bioscience. “We are confident that the acquisition will ultimately result in greater success in clinical trials and lower the cost of drug development for diseases that produce some of the highest economic costs in the world.”
PreClinOmics has an excellent track record, and scientific reputation in the CVMD research and pharmaceutical industry, thus this is an outstanding opportunity for CrownBio to expand our capabilities to serve the needs of this community”, said Jim Wang, M.D., senior vice president of CVMD research at Crown Bioscience.
PreClinOmics, Inc. (PCO) was incorporated in Indianapolis, IN, USA in 2001. It is an AAALAC Accredited, solutions provider to the pharmaceutical industry including: Discovery Services, Analytical services, ADME/PK services, Safety/non-GLP Toxicology services and genetic models. PCO works with clients in the pharma industry from large corporations to virtual start-ups. The management team consists of Joe Pesek (CEO and co-founder), Richard Peterson, PhD (CSO and co-founder), Charles V. (Van) Jackson, PhD (Director of Research) and Leah Shanahan (Director of Animal Care).
“We are thrilled to join Crown Bioscience. The drug development industry will now have a single source that offers the best models available in both cardiovascular and metabolic diseases,” said Joseph Pesek, chief executive officer and co-founder of PreClinOmics, Inc. “We are excited for the opportunities the acquisition has given us, especially with the reputation that CrownBio has earned with the experience and global resources it offers the market.”
With this acquisition, CrownBio is demonstrating its commitment to expanding its global reach as an end-to-end solution for cardiovascular and metabolic disease research, in addition to its existing oncology franchise. PreClinOmics already has cutting-edge technologies that support a broad range of study designs, including metabolic syndrome, obesity, diabetes, cardiovascular, renal and neurology.
The acquisition adds to CrownBio’s portfolio some of the most highly translational models to effectively screen compounds for efficacy and reduce the complications of these diseases. Unlike other commercially available models, the models in the PreClinOmics product line develop adult onset type 2 diabetes and all the diabetic complications without relying on mutations in the leptin signaling. Mutations in the leptin gene/receptor have never been identified as relevant to the onset of the human disease.
PreClinOmics’s name will not dissolve after the acquisition. Instead, the company will be referred to as “PreClinOmics, a Crown Bioscience company.” For more information about the acquisition and Crown Bioscience’s commitment to improving clinical outcomes, visit www.crownbio.com.
About Crown Bioscience Inc.
Crown Bioscience is a global drug discovery and development solutions company providing translational platforms to advance oncology and metabolic disease research. With an extensive portfolio of relevant models and predictive tools, Crown Bioscience enables clients to deliver superior clinical candidates. For more information, please visit www.crownbio.com.
