Small CROs band together to better compete
Six small CROs are pooling their resources and joining together, looking to capitalize on what they see as a hole in the market for contract research.
As the Kansas City Business Journal reports, Vince & Associates, Cedarburg Hauser, XenoTech, Xenometrics, Formurex and KCAS are banding together under the moniker "next IND" and combining their capabilities in order to woo small and mid-size pharmas that might not be able to afford partnering with large CROs. Through the effort, the 6 companies can cover more ground than other small CROs, but spare clients much of the overhead cost required by big firms, they say.
"More small pharma companies are looking for not just cost, but speed is so much more important these days," Vince & Associates President Brad Vince told the paper. "To piece together these components, it gives the Kansas City market a more equal playing ground with some of the large conglomerates."
Vince's company conducts clinical trials, while XenoTech specializes in drug development, Cedarburg Hauser manufactures treatments, Xenometrics handles non-clinical safety assurance, Formurex offers formulation services and KCAS conducts bioanalytical testing. Combined, they cover much of the CRO world, and their joint effort is the first of its kind, according to the Business Journal.