Concept Life Sciences, a UK-based scientific laboratory and consultancy group, has purchased CXR Biosciences of Dundee for an undisclosed sum.
CXR Biosciences is an investigative toxicology specialist. It assists international life sciences companies in resolving issues relating to the safety of compounds and with the selection of drug and chemical candidates.
The company will complement Concept Life Sciences’ existing chemical synthesis and biological services. The acquisition further strengthens Concept Life Sciences’ portfolio and enhances its ability to support complex discovery projects.
CXR Biosciences has 33 staff and will retain its name and operate under the Concept Life Sciences Group umbrella. All staff including the management team will be joining the Concept Life Sciences’ Group.
This deal marks another successful strategic acquisition further expanding our footprint and strengthening our offering
CXR Biosciences' CEO, Paul Smith will continue to head the business.
This is Concept Life Science's fourth acquisition since it was formed in July 2014. Led by Executive Chairman Michael Fort and Chief Executive Alan Morgan, Manchester-based Concept Life Sciences currently employs more than 600 people in 11 locations. It plans to extend its reach into continental Europe and the USA.
Morgan said: 'This deal marks another successful strategic acquisition further expanding our footprint and strengthening our offering.
'Specifically the acquisition of CXR Biosciences will enable us to continue to extend our capability in terms of broader discovery and pre-clinical services and add further value to an already well-established group.'