OR WAIT 15 SECS
Philip Ward is ACT's European editor, phone +44 1244 538583, firstname.lastname@example.org
Ergomed has unveiled a plan to acquire PSR Group BV, the specialist orphan drug CRO, for a sum of up to €5.7 million (around $6.7 million).
PSR was established in 1998 and is based in the Netherlands, and has extensive experience in rare diseases. These severe, debilitating or even life-threatening conditions affect fewer than 1 in 2000 people (European Union definition) or fewer than 200,000 people in the U.S., according to a statement from Ergomed. Around 30 million people worldwide suffer from rare diseases, and the orphan drug market to target these diseases continues to grow and requires specialist providers due to the regulatory, logistical, and operational complexities of conducting clinical trials, it continued.
As part of the deal, Ergomed said it will continue to grow PSR’s global orphan drug development business under the PSR brand and will remain focused on its two divisions: PSR Orphan Experts, which helps biotech and pharma companies with their regulatory and clinical development of orphan drugs (about 75% of total revenue); and PSR Pharma Resource, which provides specialist trained staff (about 25% of revenue).
The acquisition will extend Ergomed’s global coverage and increase its presence in the Middle East and North Africa, which is an important area for orphan drug development, stated the company.