Triangle-based clinical research giant Quintiles announced Wednesday it is buying Novella Clinical, another Triangle-based firm in the burgeoning clinical research industry.
Novella is a full-service clinical research organization focused largely on oncology.
"The expertise and insight the Novella team brings will be a strong addition to our existing capabilities and help further differentiate Quintiles in an increasingly competitive marketplace," said Paula Brown Stafford, president of Clinical Development at Quintiles. "Novella's understanding of emerging companies, as well as our shared commitment to quality, customer service, and above all, the patients we ultimately serve, makes this acquisition a good fit for both organizations."
Novella said that by joining Quintiles, it can continue its specialized focus while taking advantage of Quintiles' global focus.
"We are extremely excited about the opportunity to join Quintiles – the global leader in our industry," said Richard Staub, President and CEO of Novella. "Since our founding 15 years ago, Novella has been committed to serving emerging companies by offering personal attention and flexibility in addition to our extensive therapeutic experience. By joining Quintiles, we will be able to extend the geographic reach of our services exponentially while remaining committed to the values and business approach that makes us a great partner to our customers."
Novella, based in the Research Triangle Park, employs more than 800 professionals located throughout North America and Europe. The transaction is expected to close later this quarter.
Quintiles is the world's largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 27,000 employees.