Tuesday, July 31, 2007
In a move that will take Reston, Va.-based contract research organization (CRO) PRA International off the public market, the company has entered into an agreement to be purchased by Genstar Capital, a private equity group based in San Francisco. The deal is valued at $790 million.
Waltham, Mass.-based Phase Forward, a provider of electronic data capture (EDC), drug safety and data management solutions for clinical trials, reported second quarter revenues rose 28% to $31.5 million and profits doubled.
Metabasis and Daiichi Sankyo issued negative results from a phase IIb trial of CS-917 for the treatment of type II diabetes. This multi-center, double-blind, placebo-controlled trial enrolled 392 subjects who were divided into four treatment arms to receive CS-917 at 50 mg BID or 100 mg BID, metformin at 850 mg BID or placebo, for three months.
Cincinnati, Ohio-based Kendle International has closed a $200 million offering of convertible senior notes, which would become due in 2012. The notes would be converted into a combination of cash and common stock.
As a public service to sites, CROs and biopharmaceutical companies, CenterWatch is posting a long excerpt of this week’s CWWeekly article about fraudulent study broker, Cherie Thibodeau.
If you have been defrauded of funds by Cherie Thibodeau, please contact CenterWatch at email@example.com.
India may allow first-in-human phase I studies of molecules developed abroad in the near future. Currently, India only allows first-in-human studies developed in India—a boon to the burgeoning domestic clinical research industry, and a bane of the global clinical research industry.