harmaNet Development Group, the US-based contract research organisation (CRO) that merged with affiliates of private equity firm JLL Partners earlier this year, has formed a business development and co-promotion alliance with Azopharma Product Development Group, a US provider of preclinical and pharmaceutical product development services.
Under the alliance, PharmaNet and Azopharma will “leverage complementary services, develop business opportunities, and jointly manage projects for certain services provided by the two companies”, they said.
With headquarters in Hollywood, South Florida, Azopharma offers a range of services to pharmaceutical, biotechnology, generic drug and medical device companies, from full development to stand-alone and speciality services such as chemistry and manufacturing controls or cytotoxic and potent compound development.
Last July, the company took its first steps outside its home territory by establishing a European base at Welwyn Garden City in Hertfordshire, UK.
Azopharma “is an established provider of in vivo services with preclinical and toxicology capabilities and our bioanalytical capabilities are ideally positioned to support these studies”, noted Jeffrey McMullen, president and chief executive officer of PharmaNet.
Following a run of financial problems and the merger agreement announced in February, PharmaNet said in September that it was back on track, with sound finances, business process improvements and a strong basis for long-term growth.