WCG may be looking for a $100 million IPO but that hasn’t diverted its attention away from M&A.
The Princeton, New Jersey-based company, which offers trial help to biopharmas and CRO, is delving deeper into the eClinical software world with its purchase of VeraSci, which focuses on trials of drugs for the central nervous system (CNS) disorders.
Financials of the deal for the Durham, North Carolina-based firm were not disclosed, but WCG said the buyout will help it meet the “growing demand for proven scientific and technology solutions to power remote data capture, hybrid virtual studies and fully decentralized clinical trials in key CNS therapeutic areas.”
“WCG's acquisition of VeraSci represents a natural next step and an exciting growth opportunity," said Donald A. Deieso, Ph.D., executive chairman and CEO of WCG. “On behalf of WCG, I'm proud to welcome VeraSci, an organization that shares our dedication to improving the clinical trial experience for patients and sites, commitment to scientific rigor and passion for bringing novel technologies into clinical trial processes. This is a marriage of two premier global teams with a common vision.”
This latest deal comes after several acquisitive years for WCG, which included it buying out trial consultancy firm Waife & Associates a year back to boost its clinical management services, having before snapped up PharmaSeek, which specializes in consulting, patient recruitment and training for clinical research sites, all with a focus on reducing timelines for studies.
And in April last year, it bought up Analgesic Solutions, which looks to improve the quality of clinical trials in pain management and itself came a few months after WCG's purchase of First Clinical Research, organizer of the MAGI (Model Agreements & Guidelines International) Clinical Research Conference.
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Late last year, it also snapped up clinical trial solutions firm Trifecta Clinical, adding its communication platform, known as InvestigatorSpace, as well as its virtual training programs and safety documentation services to the firm’s offerings.
This also comes a few weeks after WCG, which made around $500 million last year and is looking for a post-pandemic push, said it was seeking out a $100 million IPO (but don’t be surprised if that gets bumped up) on the Nasdaq under the ticker “WCGC.”
“Since our inception, we have invested in expanding VeraSci's expertise and capabilities to include a variety of clinical and regulatory endpoints covering a range of diseases and disorders. We have also pioneered technological advances that are changing the way subjective endpoint assessments are conducted in clinical research,” said Rich Keefe, Ph.D., CEO and Co-Founder of VeraSci.
“Now, as part of WCG, we are positioned to be the go-to research partner around the globe. We can scale and further strengthen our offerings, including our industry-leading CNS services and solutions.”
VeraSci will be known as “WCG VeraSci” amid the buyout, and will “retain its leadership structure” whilst also staying at its headquarters in North Carolina.