Synchron acquires Innovance

Ahmedabad-based Synchron Research Services Pvt Ltd on Tuesday announced the acquisition of Innovance, a start-up contract research organisation based in Ahmedabad.

The acquisition is a first of its kind in the clinical research organisation (CRO) space in India. The deal was facilitated by Deloitte.

Innovance has built an impressive world-class clinical research facility at Ahmedabad. This acquisition has provided Synchron with an additional facility that offers internationally accepted clinical research services.

The new clinical facility is spread over 18,000 sqft on a single floor, with three different volunteer housing areas.

Also, the facility has 14 beds state-of the-art phase I facility.

The other two volunteer housing areas have 32 beds each. These new 80 beds will be in addition to the already existing 90 beds in the on-hand facility and 30 beds Bangkok facility, thus totaling to 200 beds across Asia.

This makes Synchron one of the largest Asian CROs. In addition to this, Synchron is building a 32, 000 sqft facility exclusively for bio-analytics and data management and this facility would be ready by August 2007.

"Synchron is looking for more acquisitions in India and other parts of Asia in the future to increase its Asian footprint to provide more research offerings to the clients," Shivprakash, chairman and managing director of Synchron, said.

Synchron provides a wide range of phase I-IV clinical research services, including quality assurance, statistical analysis & data management capabilities, in compliance with GCP, GLP and ICH guidelines.

Synchron is expanding in futuristic business areas in dermatology, in vitro technologies and high throughput screening.