Maravela | Asociatii has assisted Precision for Medicine in connection with Romanian law aspects of its multi-jurisdictional acquisition of contract research organization Argint International. Bird & Bird was lead counsel to Precision for Medicine on the deal. Kinstellar's advised the sellers on Romanian, Czech, and Hungarian aspects of the deal, working with lead counsel Osborne Clarke.
Precision for Medicine, which is part of the Precision Medicine Group, supports life sciences companies in the use of biomarkers essential to targeting patients more precisely and effectively. With more than 1,450 employees in 25 locations in the US, Canada, and Europe, Precision Medicine Group is active in fields from advanced lab sciences to translational informatics and clinical trial delivery. According to Precision for Medicine's website, "Precision’s expanded workforce, expertise, and locations will provide direct support and greater geographic reach for its global oncology, rare disease, and cardiovascular clinical trial operations, as well as increased presence and access to investigators and patients throughout the central and southeastern European regions." According to the company, "the acquisition is part of Precision’s global growth plan; Precision’s European footprint now includes offices in Edinburgh, Paris, Berlin, Geneva, Budapest, Bucharest, Bratislava, and Belgrade."
Argint International is based in Budapest, Hungary. It currently managing studies across 25 countries and more than 600 investigational sites, including several large phase III programs, each involving between 50 and 130 sites. The company has a strong presence in Hungary, Poland, Romania, Slovakia, and Serbia.
Commenting on Precision for Medicine’s growth, company President Chad Clark remarked, “Argint International is an ideal fit with Precision for Medicine. Their commitment to quality and client service, proven over more than a decade of delivering for leading biotechnology companies, is perfectly aligned with Precision’s vision and culture. The addition of the Argint team augments and enhances our European platform, which is critical due to the significant number of customers we have throughout Europe — and also the number of sites and patients seeking novel therapies derived from the benefits of precision medicine.”
“We are thrilled to be joining the Precision for Medicine family,” said Agnes Pinnel, CEO of Argint International. “As part of Precision we join an organization that shares our values, expands our capabilities, and offers growth potential for our people. In particular, we are excited to join with a leader in biomarker-based precision medicine programs, one of the fastest growing and important parts of drug development.”
Maravela | Asociatii Partner Dana Radulescu, who coordinated the firm's team on the matter, was assisted by Senior Associate Daniel Alexie, Senior Associate Irina Radu, and Associate Magda Grigore. Employment aspects were coordinated by Partner Alexandra Rimbu.
Editorial Note: After this article was published Bird & Bird informed CEE Legal Matters that its London-based team advising Precision for Medicine was led by Partner Richard Eaton, assisted by Partner Shing Lo, Associates Hannah Fletcher and Sarforaz Hoque, and Trainee Theo Rees-Bidder. Partner Zoe Feller and Associate Andrew Rink advised on tax. Associate Leah Cairney led the due diligence team. The firm's wider international deal team included Senior Associate Gabor Helembai and Zoltan Tarjan and Junior Associates Karim Laribi in Budapest; Partner Rafal Dziedzic, Associate Artur Stosio, and Junior Associate Izabela Cybulska in Warsaw; Managing Partner Ivan Sagal, Associate Radovan Repa, and Junior Associate Bibiana Mozolov in Bratislava and Prague; Partner Marc Martens and Counsel Nicolas Carbonnelle on regulatory issues in Brussels; and Partner Stefan Muench in Munich.
Bird & Bird also announced that Karanovic & Partners had served as Serbian counsel to Precision for Medicine on the deal. Karanovic & Partners confirmed that its team included Partner Milos Jakovljevic and Senior Associate Milica Filipovic.