U.S.-based Cytel Inc. has entered into an agreement to acquire Scandinavian companies SDS Life Sciences AB and SDS MedeQ AB.
Cytel says the move will add new talent to the company’s strategic consulting group and bring additional capabilities for the development of drugs and medical devices.
It says sponsors will also have easier access to a larger, geographically expanded pool of consulting expertise that will help get new therapies to patients faster.
It says that as drug development becomes more complex and competitive, pharmaceutical companies need faster and better ways to bring their therapies to market. For 35 years, Cytel’s strategic consulting group has pioneered advanced biostatistics, decision science, and real-world evidence capabilities that enable sponsors to optimize new therapeutic development.
SDS Life Science has a background in biostatistics and said it shares Cytel’s commitment to the innovative design of clinical trials and development programs, using advanced statistical and computational approaches to improve trials for patients and sponsors.
“Cytel and SDS have a tightly aligned philosophy of excellence, a harmonious knowledge base, and proven reputations as industry leaders and strategic business partners for life sciences leadership teams,” says Cytel CEO Joshua Schultz.
“By fusing our like-minded knowledge pools, we are building critical new capabilities and enhancing our offering across every dimension important for efficiently developing novel therapies including pre-clinical, real world evidence, regulatory affairs, drug development, clinical project management, biostatics and medtech.”
With SDS Life Science and SDS MedteQ supporting more than 100 biomedical sponsors in Scandinavia, in addition to several multinational pharmaceutical companies, the acquisition continues Cytel’s rapid growth into new global markets.
Cytel’s chief medical officer, Albert Kim, said: “We are now a team that can draw on a wealth of truly global talent. This acquisition adds to the already diverse intellectual community we have at Cytel and strengthens the innovative culture we value.
Nordic life sciences
“For our customers, this means more of the innovation and thought leadership that shapes impactful development programs, now more deeply connected and accessible across new geographies, and all delivered with our established dedication to customer collaboration.”
Maria Lundberg, CEO at SDS Life Science, says the company is looking forward to joining Cytel. She adds: “We’ll continue to help sponsor teams efficiently overcome their toughest challenges, and with our combined science and data-based approaches and entrepreneurial spirit, we will become greater than just the sum of our parts.”
Anna Törner, founder of SDS Life Sciences said the agreement will benefit the Nordic life science and environment with patients. The transaction is subject to customary closing conditions and is expected to close this quarter.