Bio-Imaging acquires French neurology imaging lab Theralys SA
14 February 2006 Newtown, Pa., USA. Bio-Imaging Technologies,
Inc. (NASDAQ: BITI), has acquired French company Theralys SA, a leading
provider of customized imaging services in the field of central nervous
system disorders (CNS) and neurovascular diseases.
Theralys’ proprietary image processing software enables the introduction
of quantitative imaging markers in the design of clinical trials for
neurovascular and CNS disorders, including stroke, secondary prevention
drugs, multiple sclerosis and dementia including Alzheimer’s disease (AD).
Theralys, founded in 2001 and based in Lyon, France, operates an imaging
core lab providing centralized blinded read services and image analysis.
Their proprietary and validated software for clinical trials includes
applications which enable the automated quantitation of various imaging
parameters such as brain, white matter lesion and hippocampal volumes, MRI
diffusion and perfusion. Such measurements are currently used by
pharmaceutical and biotechnology companies in ongoing phase II-III-IV trials
in neurodegenerative diseases for the evaluation of response to therapy
and/or indicators of disease progression over time.
Bio-Imaging’s Medical Director, Andrea Perrone, notes, “It is estimated
that there are currently more than 10 million patients globally with
Alzheimer’s Disease. With the aging of the baby boomer population, it is
expected that the prevalence of this disease will expand. It follows that
clinical trials for AD therapeutics will also increase, and Bio-Imaging will
be poised to offer our solutions to our clients.” Theralys has an
outstanding team of professionals led by Chahin Pachai, Ph.D. Under his
leadership, Theralys has successfully participated in numerous multinational
trials for leading pharmaceutical and biotechnology companies throughout the
world. In addition, their research program with valuable clinical
applications in cardiovascular and oncology clinical trials includes
measurements of vascular plaques and automated tumour assessment,
respectively.
Mark Weinstein, President and CEO of Bio-Imaging, said, “This planned
acquisition is consistent with our strategy to be the leader in medical
imaging core lab services by expanding our therapeutic expertise in the CNS
and neurovascular area, introducing new image analysis solutions and
strengthening our global presence. The addition of Chahin Pachai, Ph.D.,
Theralys’ Executive Director, and the expertise of Theralys’ professional
team increases the depth and breadth of our management team and strengthens
our clinical expertise.” Dr. Chahin Pachai, Executive Director of
Theralys, added, “We are pleased to be joining a leading international
provider of medical imaging services for clinical trials. We have gotten to
know Bio-Imaging through working together on a large Phase III multicenter
trial for an international pharmaceutical company and appreciate that
Bio-Imaging places the same high value on quality and customer service as we
do. We are pleased that, by joining forces with Bio-Imaging, we will be able
to leverage Bio-Imaging’s global operational capabilities and extensive
sales and marketing effort in order to expand the breadth of services we
offer and extend our global reach.”
Mr. Weinstein concluded, “We continue to look for equally suitable
acquisitions. We will keep our shareholders and the market informed as we
pursue additional transactions.”
Bio-Imaging has a worldwide core lab in Newtown, Pennsylvania, and a
European core lab in Leiden, The Netherlands. It specializes in the design
and management of the medical-imaging component of clinical trials. Through
its CapMed division, it provides the Personal HealthKey technology and
personal health record (PHR) software allowing patients to better monitor
and manage their health care information. To top
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