We've merged with Palleos Healthcare to form a wide-reaching European CRO.
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May 27th, 2024, Frankfurt,Germany — palleos healthcare GmbH, a German-based Oncology-focused contract research organization, and OCT Global SA operating under OCT Clinical brand name, a full-service CRO in Eastern Europe, are delighted to announce a merger of the two companies, marking a significant milestone in their shared journey towards creating a powerhouse in the field of clinical research. Swiss XlifeSciences AG, a leading European life sciences incubator, and a major shareholder of palleos healthcare, is acknowledged here as a substantial facilitator of this agreement. The signing of the contract ratified the merger and sets the stage for a new era of collaboration and growth.
While specific financial details of the agreement are confidential and financial figures will remain undisclosed, the strategic implications of this move are clear. By combining their unique strengths and expertise, palleos healthcare, operating primarily in Western and Central Europe (Germany, Austria and Switzerland) and OCT Clinical, mainly focusing on Eastern Europe (Poland, Hungary, Baltic States, Ukraine and Bulgaria) are poised to offer enhanced end-to-end services and solutions to their clients globally, and recruit patients across a region comprised of a total population of 300 million.The companies agreed to operate under palleos healthcare brand name effective the date of the contract.
“The merger will undoubtedly create significant synergies, not just doubling but squaring the expertise of both companies. While OCT Clinical previously focused on the East European and palleos healthcare on Central European market, both together now cover the entire region with a product development offering that ranges from pre-clinical consulting to regulatory affairs and clinical trials,” statedPhilip Räth, Managing Director at palleos healthcare.
“OCT Clinical is proud to join forces with palleos healthcare, as it has an excellent reputation in the industry it serves. Now we can offer tailored solutions to our clients to meet their diverse clinical research needs and accelerate the time of bringing their products to market”, Dmitry Sharov, CEO at OCT Clinical.
"We are delighted to witness the merger of palleos healthcare GmbH and OCT Clinical, marking a significant advancement in the clinical research sector. As a major shareholder in palleos healthcare, Xlife Sciences AG sees great potential in this union to enhance operational efficiency and broaden service capabilities. This merger promises to deliver superior clinical research solutions and advance global healthcare," Oliver R. Baumann, CEO of Xlife Sciences AG.
Strikingly, according to the U.S. Food and Drug Administration (FDA), out of the 55 novel drugs approved in 2023, 42 underwent clinical studies in Europe (Germany, Georgia, Poland, Hungary, Bulgaria, Romania, the Czech Republic, Serbia, Ukraine and Latvia). Additionally, according to an FDA Report based on a total of 292,766 study participants, 7 Central and Eastern European countries placed in the top 10 in terms of the number of participants. This makes the deal between palleos healthcare and OCT Clinical worth watching out for and holds particular interest for pharmaceutical companies on the lookout for efficient solutions for patient recruitment and successful study outcomes.
About:
palleos healthcare is a central European full-service Clinical Research Organization (CRO) focused on product development including pre-clinical consulting and clinical services for small to large scale trials. More than 10,000 patients in 300 sites have been treated throughout various indications with a focus on Oncology.
www.palleos.com
Xlife Sciences AG is a Switzerland-based leading European life sciences incubator and accelerator, engaged in researching, developing and commercializing therapeutics and medicines for the treatment of diseases.
www.xlifesciences.ch
OCT Clinical is a full-service contract research organizationand a leader in the Eastern European market. The company's portfolio already includes more than 360 I-IV and BE clinical trials in the field of Oncology, Infectious Diseases, GI, Rheumatology, and other therapeutic areas. OCT Clinical is also a resident member of Biopôle Lausanne (Switzerland), one of the largest life sciences campuses in Europe.
www.oct-clinicaltrials.com
For media requests, please contact
pr@oct-clinicaltrials.com
OCT Clinical is now operating under Palleos Healthcare brand name.
“The merger will undoubtedly create significant synergies, not just doubling but squaring the expertise of both companies”, Philip Räth, Ph.D., managing director at Palleos, said in the release.
“OCT Clinical is proud to join forces with palleos healthcare, as it has an excellent reputation in the industry it serves. Now we can offer tailored solutions to our clients to meet their diverse clinical research needs and accelerate the time of bringing their products to market”, Dmitry Sharov, CEO at OCT Clinical.
