In a move to expand its footprint, iuvo BioScience, which describes itself as a specialty partner research organization, has picked up ophthalmology-focused CRO Promedica International.
Together, the companies will be able to support all aspects of ophthalmic clinical research, from front of the eye to back of the eye, iuvo said in a Jan. 18 press release. Financial details and a timeline for the sale's expected completion weren't disclosed.
Iuvo also announced that Shannon Stoddard, the owner of Promedica who currently serves as the CRO's president, will take on the role of president, clinical research for the combined business as well as serve on the board.
“Shannon's employee-centric and sponsor-dedicated approach is a perfect strategic and cultural fit with the iuvo team,” Ben Burton, iuvo’s president and CEO, said in the release. “Under Shannon's leadership, we will remain focused on what has made each business successful: excellent client service, outstanding therapeutic expertise and an experienced team dedicated to collaborating with each other and the sponsor.”
iuvo was founded in 2015 by Burton and his fellow former Bausch & Lomb executive Mary Richardson. The company provides integrated services to small- and mid-size biotech and medical device companies.
Back in 2018, iuvo acquired Oculos Clinical Research, a leader in ophthalmic clinical research, for an undisclosed price.