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Monroe County-based iuvo BioScience announces acquisition of California CRO
Monroe County-based iuvo BioScience announces acquisition of California CRO
iuvo BioScience has acquired Promedica International, a California-based specialty ophthalmology-focused clinical contact research organization.
iuvo BioScience, located in Rush, is a specialty partner research organization providing preclinical and clinical development services, laboratory services and scientific consulting services.
As part of the transaction, iuvo has announced the appointment of Shannon Stoddard as president, Clinical Research for the combined clinical research business. Stoddard will also serve on the Board of Directors of iuvo BioScience.
“Shannon’s employee-centric and sponsor-dedicated approach is a perfect strategic and cultural fit with the iuvo team,” said Ben Burton, iuvo president and CEO. “Under Shannon’s leadership, we will remain focused on what has made each business successful: excellent client service, outstanding therapeutic expertise and an experienced team dedicated to collaborating with each other and the sponsor.”
Backed by private equity firm Ampersand Capital Partners, the combined business is well-positioned for continued growth in delivering end-to-end laboratory, consulting and clinical development services with a focus in ophthalmology and the broader medical device market, company leaders said.
Through the combination of the two companies, iuvo and PMI will be the only niched ophthalmology service provider able to support customers from the early pre-clinical and laboratory stages through all phases of clinical development within one integrated organization, they noted.
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