Synchron mulls clinical research in Vietnam

BEYOND BOUNDARIES

After setting up Thailand's first clinical research organisation (CRO), Ahmedabad-based Synchron Research Service Pvt Ltd is planning to set up a greenfield project in Vietnam. The company will extend its clinical research facilities to Vietnam for an investment of $2 million (Rs 80 crore).

"We aim to cater to the Asia Pacific region through this new facility," said Shivprakash, managing director of Synchron.

To funds this and other expansion plans Synchron is also planning to come out with an IPO in the next two years.

Meanwhile, US-based CRO Parexel had hiked its stake in Synchron from 19.5 per cent to 31 per cent. "So far, Parexel has invested about $10 million in Synchron," he added.

A couple of days ago, the company had also announced the acquisition of Parexel's bio-analytical and bio-marker facility in France for about $6.7 million. The lab will be known in France as Synexel Research International SAS.

"Over the past several years, Parexel has developed a strong global clinical pharmacology capability through both organic growth and acquisitions. As a result, we are an industry leader in expertise-based Phase I studies," said Josef H von Rickenbach, chairman and chief executive officer, Parexel International in a press release.

With this acquisition, Synchron will have more than 350 ready-to-run methods in various animal and human biological matrices. Synexel has developed over 100 proprietary bioanalytical methods for new chemical entities (NCEs) for the world's top pharmaceutical companies to assist in their drugs discovery programme for preclinical/phase I and IIa studies.

Synchron also hopes to look for more opportunities in Europe in future for catering to new areas of contract research with Indian synergy.