India Clinial Research Canadian CRO A5 Labs to buy Vida's CRO biz

[FAISAL ZAIDI]

Labs to buy Vida's CRO biz

Canadian CRO A5 Labs will buy Vida Pharma’s contract research and interferon production technology to boost biotechnology services business.

Under the new deal, financial terms of which were not announced, contract research organisation (CRO) will acquire all of fellow Montreal, Canada-based Vida’s equipment, intellectual properties and analytical methods.

A5 will also taken on all of Vida’s existing contract research customers.

Richard Azani, A5 CEO, said: "We are very pleased to begin the process of acquisition of these assets. Our strategic vision is to use the CRO assets to create a research based profit centre and to leverage that internal core competence to develop and commercialize novel biotechnology products."

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