Canadian-based NeoPharm Completes Acquisition Of Boston-Based Averica Discovery Services

MONTREAL, QC and BOSTON, MA--(Marketwired - November 03, 2016) -

Neopharm Labs Inc., a leading Quebec-based full-service pharmaceutical testing laboratory, announces its expansion into the United States this morning with the strategic acquisition of Averica Discovery Services Inc. (Averica), a Contract Research Organization (CRO) based in the Greater Boston area with specialized expertise in early stage contract research and analytical development. The addition of Averica to Neopharm Labs’ portfolio provides an opportunity for the organization to expand its geographic reach into the U.S., allowing it to pursue its growth strategy and further increase its range of services into the region.

“We are very impressed with the knowledge and scientific track record of Dr. Jeffrey Kiplinger and the entire Averica team. The combination of the companies makes us more competitive and allows us to broaden our service offerings to the life sciences industry. Our clients will directly benefit from the merging of our companies’ skills and talents,” states Nicolas Fortin, President and General Manager of Neopharm Labs.

The highly complementary combination of these two companies is unique. The new entity provides a range of services at every stage of the drug development cycle, from R&D to method development and validation, to stability management, and to commercial testing in chemistry and microbiology. By acquiring Averica’s specialized expertise in small molecule analysis and purification, Neopharm is creating a company that will be a leader in the field of analytical services.

“Our clients can now take advantage of an expanded range of services,” adds Dr. Jeffrey Kiplinger, President and CEO of Averica Discovery, who joins Neopharm’s Executive Team as Vice President, Science & Innovation. “With this expansion into the U.S. market, Neopharm Labs will continue building on our combined strengths and capabilities in order to provide the very best services to its customers alike.”

Averica’s Boston area laboratory will continue to provide its current services with plans to expand service offerings and lab space. The location will also serve as the U.S. sales office for Neopharm Labs.

About Neopharm Labs
Neopharm Labs is an independently owned company headquartered in Blainville, Québec, Canada. It is a full service GMP analytical testing laboratory closely collaborating with pharmaceutical, medical devices, natural health, veterinary, as well as cosmetic clients. Serving the life sciences industry for over 25 years, it offers a unique platform to provide complete portfolio validation and testing to the life sciences industry, including: chemistry, microbiology, sterility, quality control, R&D support, ICH stability studies, method validation and transfers, as well as Quality Assurance and Regulatory Affairs consulting services. Its world-class laboratory is regularly inspected by government agencies such as the U.S. FDA and Health Canada, and has been qualified by several world-renowned life sciences industry leaders. Neopharm holds a Canadian Drug Establishment license since 1995 and possesses narcotics, precursors and controlled substances licenses. Neopharm Labs provides services for Canada, U.S. and Global customers since Canada is a privileged participant to the Global Mutual Recognition Agreements (MRA’s). Countries where MRA’s are in place will accept Certificates of Analysis (CofA’s) emitted by their laboratory for the local commercialization of foreign products. For more information, please visit: www.neopharmlabs.com.

About Averica Discovery Services
Founded in 2007, Averica Discovery Services is a Massachusetts-based analytical development contract research organization (CRO) with specialized expertise in small molecule analysis and purification. The company supports chemistry teams by providing material and information required to transition programs from drug discovery to development. With extensive experience in pharmaceutical R&D, it currently offers a variety of chromatography-based services, including method development and qualification, impurity isolation and identification, scalable small molecule purification, and custom assay development. For more information, please visit: www.avericadiscovery.com.