Genesis Drug Discovery & Development (GD3), a member of Genesis Biotechnology Group (GBG) announced today that it has acquired Comparative Biosciences, Inc. (CBI), a Contract Research Organization (CRO) located in Sunnyvale, California. CBI is specialized in GLP (Good Laboratory Practice) Toxicology and Safety Pharmacology projects for IND-enabling research studies. This portfolio addition will enable GD3 to expand its pre-clinical services to GLP based studies by (1) offering integrated, single-point-of-contact services throughout the project lifetime, (2) streamlining all phases of the discovery cycle and (3) enabling new discoveries to progress rapidly from project inception through pre-clinical development. CBI's skilled team of scientists, will work synergistically with GD3's existing services around preclinical drug discovery.
"This acquisition is another strategic milestone for GBG in support of our vision to build a world class fully integrated CRO," says Dr. Eli Mordechai, CEO of GBG. "Adding CBI is another way to differentiate our capabilities in the preclinical space. The acquisition of CBI significantly enhances our capabilities for providing IND enabling studies in Toxicology and Safety Pharmacology to better serve our industry partners."
"M&A transactions in several sectors are paused or abandoned due to pandemic, but the CRO sector is less affected," says Dr. Ben Bandaru, Director of Corporate Development at GBG. We are seeing a temporary uptake in our service business as Pandemic related restrictions have forced Pharma and Biotech companies to increase outsourcing. However, timing of when things return to normalcy is still uncertain, so providing forward guidance continues to be a challenge in the short term."
"Selling a business that we have built in a span of 20 years is not an easy decision but we are excited to be a part of GD3's integrated portfolio of contract research services, as it would benefit our clients tremendously," says Dr. Carol Meschter, CEO of CBI. This acquisition allows us the opportunity to provide a more complete package of services to our clients and creates opportunity for our team to grow and evolve with a boarder platform.
About Comparative Biosciences, Inc.
Comparative Biosciences, Inc. (CBI), a premier preclinical contract research organization (CRO), provides expert scientific resources and high-quality contract research services to all sectors of the biomedical and biopharmaceutical community. Its team of scientists has extensive experience in GLP and non-GLP preclinical toxicology, efficacy, pharmacology, pharmacokinetics-pharmacodynamics, histopathology, and safety studies on all laboratory species. CBI's particular areas of expertise including ocular, dermatology, fibrosis, ototoxicity, wound healing and burns, stem cells, oncology, renal, inflammation, immune-mediated, CNS, cardiovascular, infection models, devices, contract histopathology, immunohistochemistry, and custom model development.
About Genesis Biotechnology Group®
Genesis Biotechnology Group (GBG) is a consortium of vertically-integrated companies, with a mission of improving patient care through cross-linking their expertise, dedication, and vision in the fields of drug discovery, personalized and tailored clinical diagnostics, and through the development, manufacturing, and distribution of unique biotechnology-based products.
About Genesis Drug Discovery & Development
GD3 is a fully integrated CRO focused on providing services to support preclinical drug discovery programs from early discovery through preclinical development. GD3's portfolio is quite diverse and covers all areas of preclinical drug discovery/development including "Discovery Biology", "Synthetic Organic and Medicinal Chemistry", DMPK/in-vivo pharmacology and Toxicology. GD3's capabilities also include model development for a wide range of therapeutic areas including oncology, ophthalmology, inflammation/autoimmunity, metabolic diseases and microbiome.
