DecisionLine adds high-end exploratory/translational medicine
capabilities and world-leading scientific psychopharmacology expertise;
supports Kendle strategic initiative to drive growth in its early phase
CINCINNATI, June 2 /CNW/ -- Kendle (Nasdaq: KNDL), a leading global
full-service clinical research organization (CRO), today announced the
acquisition of DecisionLine Clinical Research Corporation (DecisionLine
Clinical Services), a privately owned, early phase CRO with a state-of-the-art
medical facility in Toronto, Canada. DecisionLine specializes in the conduct
of Phase I studies involving the measurement of pharmacodynamic effects of
central nervous system (CNS) drugs, and is recognized worldwide as a leader in
the conduct of human abuse liability studies and the assessment of abuse
potential and risk mitigation. The company brings to Kendle extensive
world-class scientific expertise with psychopharmacology high-end
exploratory/translational medicine capabilities, from first-in-human to
proof-of-concept trial conduct, as well as drug development consulting,
medical writing, data management, biostatistics and other support services.
Kendle acquired DecisionLine for an undisclosed cash amount. Specific terms of
the transaction were not disclosed. The acquired business will report into
Philip J.W. Davies, Vice President, Early Phase.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030429/KNDLLOGO )
"With Phase I growth expected to outpace the broader outsourcing market
at approximately 15 percent annually, early phase development remains an
important need for our customers and an area of significant growth opportunity
for Kendle," said President Simon Higginbotham. "The addition of DecisionLine
is an important step in building Kendle's global capabilities for exploration
of early phase drug candidates and supports our strategic initiative to drive
growth in our Phase I business. We look forward to leveraging the benefits of
our combined and strengthened scientific expertise as we assist our customers
in tapping their most promising new compounds for development."
DecisionLine was founded in 1997 by President and CEO Edward M. Sellers,
MD, PhD, FRCPC, FACP and Senior Vice President, Research Development & Medical
Affairs Myroslava K. Romach, MSc, MD, FRCPC. The company's 82-bed,
36,000-square foot medical facility is staffed by a team of internationally
recognized scientists, including clinical pharmacologists and
neuropsychologists, physicians, research nurses, pharmacists, paramedics and
research assistants. DecisionLine employs approximately 110 full-time and 130
part-time associates. The company has grown its revenue at an average compound
annual growth rate of 60 percent since 2002, and has been named to Profit
magazine's list of the top 100 fastest growing companies in Canada. Dr.
Sellers and Dr. Romach will play key leadership roles as part of Kendle's
Early Phase organization. Dr. Sellers will serve as General Manager, Early
Phase, Toronto and Senior Scientist, Kendle International and Dr. Romach will
assume the role of Head of Clinical Operations and Medical Affairs, Early
Phase, Toronto and Senior Scientist, Kendle International.
"We are extremely pleased to join Kendle," said Dr. Sellers,
"DecisionLine's specialized experience in Phase I together with Kendle's
global capabilities and footprint will provide great benefits to the
customers, investors and associates of our combined organization as we work to
establish Kendle as a world leader in early phase development services."
Kendle's existing early phase capabilities include a Clinical
Pharmacology Unit (CPU) in Utrecht, The Netherlands, and a Bioequivalence Unit
in Morgantown, W.Va. Kendle's CPU is strategically located on the campus of
University Hospital Utrecht and includes a 48-bed facility plus visit area
with on-site project management, recruitment and screening, sample handling,
pharmacy (GMP), quality control, clinical data management, biostatistics,
medical writing, a Phase IIA team and independent Clinical Quality Assurance.
The company's bioequivalence facility, located near West Virginia University,
has been in operation for more than 25 years and provides bed space for 118
Investor Webcast and Conference Call
Kendle will host a telephone conference call and Webcast Tuesday, June 3
at 9:30 a.m. Eastern Time to discuss the DecisionLine acquisition and provide
an update on second quarter progress.
Conference Call Details
Dial in: 800-399-0069 (United States and Canada)
706-643-3694 (Outside North America)
Conference ID Number 50042856
Please go to www.kendle.com or
http://www.videonewswire.com/event.asp?id=48934. The Webcast will be
archived at www.kendle.com (click on "Investors") shortly after the call.
The conference call and archived Webcast will be available until 5 p.m.
Eastern Time on July 3.
Kendle International Inc. (Nasdaq: KNDL) is a leading global clinical
research organization providing the full range of early- to late-stage
clinical development services for the world's biopharmaceutical industry. Our
focus is on innovative solutions that reduce cycle times for our customers and
accelerate the delivery of life-enhancing drugs to market for the benefit of
patients worldwide. As one of the fastest-growing global providers of Phase
I-IV services, we offer experience spanning 90 countries, along with
industry-leading patient access and retention capabilities and broad
therapeutic expertise, to meet our customers' clinical development
challenges. Kendle was named "Top CRO to Work With" in the Thomson CenterWatch
2007 survey of U.S. investigative sites and "Best CRO" for 2007 and 2006 by
leading global pharmaceutical publication Scrip World Pharmaceutical News.
Additional information and investor kits are available upon request from
Kendle, 441 Vine Street, Suite 1200, Cincinnati, OH 45202 or from the
company's Web site at www.kendle.com .
Information provided herein, which is not historical information, such as
statements about prospective earnings, revenue and earnings growth, are
forward-looking statements pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All such forward-looking
statements, including the statements contained herein regarding anticipated
trends in the company's business, are based largely on management's
expectations and are subject to and qualified by risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied by such statements. These risks and uncertainties include, without
limitation, competitive factors and industry consolidation, outsourcing trends
in the pharmaceutical and biotechnology industries, the company's ability to
manage growth and to continue to attract and retain qualified personnel, the
company's ability to complete additional acquisitions and to integrate newly
acquired businesses, the company's ability to penetrate new markets, the fixed
price nature of contracts and cost overruns, the loss, cancellation or delay
of contracts or amendments thereto, the ability to maintain existing customer
relationships or enter into new ones, the company's sales cycle, the effects
of exchange rate fluctuations, risks related to non-U.S. operations and other
factors described in the company's filings with the Securities and Exchange
Commission, including Quarterly Reports on Form 10-Q and the Annual Report on
Form 10-K. No assurance can be given that the company will be able to realize
the net service revenues included in backlog and verbal awards. Kendle
believes that its aggregate backlog and verbal awards are not necessarily a
meaningful indicator of future results. All information in this release is
current as of June 2, 2008. The company undertakes no duty to update any
forward-looking statement to conform the statement to actual results or
changes in the company's expectations.
For further information:
For further information: Investors, Patty Frank, +1-513-763-1992, or
Media, Lori Dorer, +1-513-345-1685 both of Kendle International Inc. Web Site: