TORONTO, Nov. 26, 2013 /CNW Telbec/ - BioPharma Services Inc. (BPSI) announced that it is expanding its clinical operations into the US by establishing a new, 48-bed Phase I clinical facility in Columbia, Missouri. The new clinical facility will be ready for operations by Q1 2014, with the capacity for expansion to 140 beds.
BPSI will be utilizing its Phase I clinical expertise and operational experience in establishing this new clinical facility. Other support services and overall project management will continue to be handled from the Toronto headquarters. Although this clinical facility in Missouri will be the company's first in the US, BPSI already conducts Phase I/IIa clinical trials and BE studies for US FDA submission at its US FDA-inspected headquarters in Toronto, Canada, where it runs its own clinical facility and co-located bioanalytical laboratory.
"We are excited about our growth strategies. Our new clinic in Columbia, Missouri will be a world-class facility able to meet the growing needs of our US and global clients," commented Renzo DiCarlo, CEO of BioPharma Services Inc.
The new US clinical site will be headed by Levon Yeghikyan, former Director of Clinic Operations at BPSI's Toronto clinical site. The facility will be run as a second BPSI site for Phase I/IIa clinical trials and BE studies, and it will complement the company's existing 174-bed clinical facility in Toronto, Canada. This will increase BPSI's total global capacity for Phase I/IIa clinical trials and BE studies to 222 beds, and will provide the additional option to its pharmaceutical and biotech customers of running their clinical trials at either location.
"BioPharma Services is a great example of how committed entrepreneurs and a talented management team can fuel high growth," said Enes Kula, Manager, Subordinate Financing at the Business Development Bank of Canada (BDC). "We are proud to have supported BioPharma over the past four years and we look forward to playing a part in their future success."
About BioPharma Services Inc.
BioPharma Services Inc. is a physician-owned, physician-run, US FDA-inspected, UK MHRA-inspected, and Health Canada-inspected Canadian contract research organization (CRO), which specializes in the conduct of Phase I/IIa clinical trials, including FIM trials, BE studies and bioanalysis, for international pharmaceutical and biotech companies from the US, Canada, Australia and Europe. The company currently has a modern, 174-bed clinical facility based in Toronto, Canada, and will be opening another modern, 48-bed clinical facility in Columbia, Missouri by early 2014. It is privately held and is headquartered in Toronto, Canada. www.biopharmaservices.ca
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
SOURCE: BioPharma Services Inc.
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Bio Pharma Services Inc.