Cerep SA today announced that it has sold Hesperion AG, its Swiss-based clinical research subsidiary to Averion International Corp. for a total consideration of EUR 25.0 million. The selling price includes an upfront cash payment of EUR 20.0 million and an additional EUR 5.0 in promissory notes with a maturity date of 3 years. With this divestiture, Cerep SA accelerates the development of its high growth preclinical services including pharmacological and pharmaceutical screening and profiling offer as well as BioPrint®-derived services dedicated to better anticipate adverse drug reactions from in vitro and in silico data. Thierry Jean, Chairman and CEO of Cerep SA commented: “Cerep has decided to focus on core competencies where the Group can find synergies to better leverage its unique capabilities to deliver high quality services in drug discovery. With such increased cash resources, we will continue the development of a highly profitable preclinical service company and to grow our position of leader in this marketplace“.
About Cerep Cerep’s mission is to provide pharmaceutical companies with high quality services in drug discovery and drug development. Cerep provides solutions allowing faster and cost effective drug discovery by identifying at early stages the most promising drug candidates as well as eliminating those compounds likely to fail in development. Cerep has developed a unique know-how based on technologies of in vitro screening and profiling using its proprietary database BioPrint®, which allows the modelling of clinical effects of drug candidates from their molecular properties. Cerep’s technologies benefit to more than 460 pharmaceutical and biotechnological companies worldwide including most of the top pharmaceutical firms. Over the past years, Cerep also developed a pipeline of drug candidates which includes collaborative products developed with Sanofi-Aventis and Bristol-Myers Squibb, as well as proprietary compounds (including one compound in phase I/II clinical trial in the field of cancer). These programs and associated compounds are either partnered or being licensed-out.
About Hesperion Founded in 1996, Hesperion has extensive experience and expertise in cardiology, oncology and has developed long-term partnerships. Hesperion has focused on establishing clinical development partnerships with medical device, biotech and pharmaceutical companies and has employed clinical research professionals worldwide with expertise in medical and regulatory affairs, clinical operations, data management and statistics. Hesperion has conducted more than 220 projects involving 41,000 subjects in 40 countries for more than 110 clients, and it has been successfully audited by EMEA and FDA for its work on the pivotal studies of Tracleer®, the breakthrough orphan treatment for pulmonary arterial hypertension developed by Actelion Ltd.
About Averion Averion International Corp. is a full service clinical research organization (CRO) that provides clinical research services to the pharmaceutical, biotechnology and medical device/diagnostic industries. The company has a therapeutic focus in oncology, medical devices, dermatology and nephrology. Averion’s core competencies are in FDA and product registration support, site selection, project management, medical and site monitoring, data management, biometrics, pharmacovigilance, medical writing, and full clinical trial management services throughout the clinical trials lifecycle. The Company has supported FDA approvals for products in many therapeutic areas including: oncology, medical devices, dermatology, and nephrology. Averion is headquartered in Southborough, Mass. with European operations based in Basel, Switzerland. Averion has U.S. offices in California, Maryland and New York; European offices in Austria, France, Germany, The Netherlands, Poland, Russia, and the United Kingdom; a location in Israel; and partnerships in Hungary, India and South America.
For more information, visit www.averionintl.com.