US-based contract research firm QPS Holdings has taken a majority stake in Hyderabad-based Bioserve Clinical Research Private Limited (Bioserve). Bioserve, a phase 1 CRO, will be known as QPS-Bioserve India after this transaction. Suneil Reddy, the current managing director, will continue in his position. The transaction value was not disclosed.
QPS is a CRO focussed on translational medicine, early stage clinical and late stage clinical research. Bioserve's infrastructure includes a 92-bed clinical unit for conducting phase I studies and a bioanalytical lab. Over the past six years, it has conducted over 500 studies, with numerous product approvals, and has been inspected by the USFDA, UKMHRA, WHO and Indian DCGI.
The company has been growing at a rate of over 50% per year, with a current team of over 100 employees, said a statement from QPS. Its clients include large Indian as well as MNC pharmaceutical firms. Bioserve’s promoters are the founders of Vijaya Diagnostic Centre, one of the largest chains in Hyderabad.
Veda Corporate Advisors was the exclusive advisor to Bioserve in the transaction.
"This new partnership further expands QPS’ global range of linearly integrated services," said Ben Chien, PhD, Chairman, President and CEO of QPS.
This is the second acquisition by QPS in Asia in recent months. Earlier this month it acquired the Center of Toxicology and Preclinical Sciences (CTPS) from Taiwan’s Development Center for Biotechnology (DCB).