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Synarc, Inc. To Combine With Center for Clinical and Basic Research


7/13/2006 2:00:20 PM

SAN FRANCISCO, July 13 /PRNewswire/ -- Synarc, Inc., the world's largest provider of centralized imaging and molecular marker services to the pharmaceutical and biotechnology industries, and the Center for Clinical and Basic Research A/S (CCBR), a Denmark-based corporation with expertise in implementing clinical research studies, announced today they have reached agreement to combine their companies and operations. The combination will position Synarc as the parent company while CCBR will become a wholly owned subsidiary of Synarc.

"Combining with CCBR signals our intention to grow Synarc beyond our present focus as a medical imaging and molecular markers services company to a more complete and diversified clinical trial services organization," said Gary Velasquez, Synarc's president and CEO. "This combination leverages the strengths of the two companies and enables both to expand worldwide into new service and therapeutic areas that are important to our customers."

Synarc's advanced capabilities enable pharmaceutical industry clients to accelerate clinical trials and decrease the time, uncertainty and cost of drug development. Its clients include many of the world's top biotechnology and pharmaceutical companies. The company currently manages more than 150 clinical trials, involving more than 60,000 patients at 1,500 sites worldwide. Based in San Francisco, Synarc has 400 employees in seven offices in the U.S., Europe and Asia.

"Synarc's customers are moving quickly to develop new and effective therapies," said Velasquez. "They are responding to the social needs of an aging population and the demands to manage illnesses better and improve the quality of patient lives. We are growing our business to support these new and intensified needs and believe combining with CCBR is a major step in building a better, even more compelling and competitive value proposition for customers of Synarc."

CCBR offers expertise in patient recruitment and data management for clinical trials and scientific publication of clinical trial results. It has received worldwide recognition for its clinical research, especially in the area of osteoporosis and bone disease. Based in Copenhagen, Denmark, CCBR operates clinical trial sites in Denmark, Poland, the Czech Republic, China, Romania, Lithuania, Brazil, and Estonia, and employs more than 200 researchers, technicians and support staff worldwide.

"CCBR has built its reputation on the same principles of scientific expertise and service as Synarc," said Dr. Claus Christiansen. Christiansen, who founded CCBR in 1992, was an original Synarc co-founder. "Together we can leverage our mutual strengths and expand into new service and therapeutic areas -- helping us both stay competitive in this dynamic environment. It is the right move for CCBR."

The transaction will not change leadership roles at either organization. Christiansen will retain his position as CCBR's CEO.

"As a subsidiary of Synarc, CCBR will add Synarc's services in imaging and molecular markers to our already robust clinical trial services. We will also look to expand into new therapeutic areas," added Christiansen. "We share a common vision of attracting leading scientific talent and providing them with compelling opportunities to use their expertise in applied science."

"Dr. Christiansen and I recognized what a valuable combination Synarc and CCBR will be together," said Velasquez. "Our expanded business platform makes us a more compelling and competitive player in the changing clinical trial services marketplace."

For more information on Synarc, Inc. go to www.synarc.com.

For more information on Center for Clinical & Basic Research go to www.ccbr.com. Media Contacts: Jeff Speer David Yeary FischerHealth Synarc, Inc. 310-577-7870 ext. 156 415-817-7752 jspeer@fischerhealth.comdavid.yeary@synarc.com

Synarc, Inc.

CONTACT: Barbara Kowalski of FischerHealth, +1-310-577-7870, ext. 171,bkowalski@fischerhealth.com; or David Yeary of Synarc, Inc.,+1-415-817-7752, or cell, +1-916-397-5595, david.yeary@synarc.com



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