TKL Research has sold its clinical trials division to QuintilesIMS
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has announced that TKL Research’s Clinical Trials Division (“CTD” or the “Company”) has been acquired by QuintilesIMS. CTD will become part of Novella Clinical, a QuintilesIMS company. Moving forward, TKL Research will retain its Research Clinics Division (RCD) as TKL Research, Inc. Terms of the transaction were not disclosed.
Headquartered in Rochelle Park, New Jersey, TKL Research is a premier, full-service, therapeutically focused clinical research organization (“CRO”) with leading expertise in dermatology serving the pharmaceutical and biotechnology industries. The Company provides comprehensive clinical trial management services for Phase 1-4 clinical research studies, including an inpatient Phase 1 facility and outpatient specialized research clinics. TKL Research’s CTD has broad capabilities that include a unique patient recruitment paradigm to shorten timelines, as well as minimal staff turnover and deep expertise in dermatologic indications. For further information, please visit www.tklresearch.com.
“It’s exciting to see CTD take this next step in its strategic growth plan,” said Jon C. Anderson, Ph.D., President and CEO of TKL Research. “With this deal, we will continue our focus on providing our inpatient and outpatient Phase 1 services.”
Dr. Robert Reardon, Executive Vice President and COO, said, “Lincoln’s unique insights and in-depth understanding of our business model, drawn from the firm’s extensive experience advising CROs, allowed them to share our story and value proposition in a highly compelling manner. Lincoln’s access to key decision makers was critical in securing an exceptional new long-term partner.”
Lincoln acted as the exclusive sell-side advisor to TKL Research, working closely with the management team and shareholders throughout the sale process to provide advisory expertise and manage the marketing, due diligence and negotiation phases of the transaction.
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