Joinn Laboratories of Beijing, a CRO, will pay $27.3 million to acquire the pre-clinical CRO business of Boston-area Biomere, formerly known as Biomedical Research Models. Biomere claims particular expertise in animal models. Joinn said the US acquisition will create synergies with its China business and give the company a foothold in Boston, allowing it to access multinational pharmas. Joinn, which will close the transaction after Biomere divests its money-losing vaccine business, plans to form a special purchase vehicle in the US to complete the cash transaction.
Source: China Biotoday
