QPS Expands Phase 1 and Bioanalytical Capability by Acquisition of Bioserve, India
NEWARK, Del. and HYDERABAD, India, Jan. 26, 2011 /PRNewswire/ -- QPS, LLC, a leading full-service GLP/GCP-compliant contract research organization providing testing services to support preclinical and clinical research and development, announced the acquisition of a majority stake in Bioserve Clinical Research. Bioserve, a full service phase 1 CRO headquartered in Hyderabad, India, will be known as QPS-Bioserve India.
QPS is a global CRO supporting drug discovery and development since 1995. Its five areas of expertise include: Preclinical DMPK/Tox, Bioanalytical, Translational Medicine, Early Stage Clinical and Late Stage Clinical Research.
Bioserve is an ISO 9001:2008 certified organization providing world-class clinical research services to sponsors across the globe. Its infrastructure includes a 92-bed clinical unit for conducting phase I studies and a bioanalytical lab equipped with multiple LC/MS/MS systems for small molecule bioanalysis. Over the past 6 years, it has conducted over 500 studies, with numerous product approvals, and has been inspected by the USFDA, UK MHRA, WHO and Indian DCGI.
"This new partnership further expands QPS' global range of linearly integrated services," said Ben Chien, PhD, Chairman, President and CEO of QPS. "With access to Bioserve's additional resources, our customers will have the heightened benefits of a third more phase I beds, bringing our total to 400; greater bioanalytical capacity; and access to another facility, located in India, with a reputation for outstanding performance and a record of timely approvals. Furthermore, current customers will be reassured to learn that Mr. Suneil Reddy will remain as Managing Director."
The company has been growing at a rate of over 50% per year, with a current team of over 100 employees. Clients include large Indian as well as Multinational pharmaceutical firms. Bioserve's promoters - the founders of Vijaya Diagnostic Centre, one of the largest diagnostic