Commonwealth extends global reach with new deal

RICHMOND, Va.—Commonwealth Biotechnologies Inc. has struck a deal with PharmAust Ltd., an Australia-based biotech services company, to form a strategic alli­ance and client referral agreement under which they will co-market their services to the life sciences industry. The agreement will pro­vide for ready access of customers to the largely complementary com­bined capabilities of the two orga­nizations, and reportedly enable better overall solutions to be devel­oped on the demanding times­cales required by clients in the life sciences industry. The extended geographic reach brought about by this partnership also will offer a new solution for multinational companies with global service requirements.

 

"This is one of those true win-win relationships where each company stands to benefit enor­mously from the added technol­ogy offerings and extended global reach. In particular, CBI will now have access to the large and rap­idly growing market in the Pacific Rim while PharmAust will be able to offer its drug discovery ser­vices in medicinal chemistry and peptide technologies to the CBI's large client base," says Richard J. Freer, chairman and COO of CBI. "Access to PharmAust's direct sales force is also a real bonus. They are highly seasoned and, more importantly, are well versed in selling services such as those offered by CBI," he adds.

 

PharmAust's managing direc­tor, Dr. Paul D'Sylva notes, "This alliance is in line with PharmAust's strategy to work with high-quality partners to enhance the range and depth of our product and service offerings to the global drug discov­ery industry."

 

"The integration and co-mar­keting of PharmAust and CBI's preclinical capabilities offers the industry a single-point of service for early-stage drug discovery and development. This agreement rep­resents an important first step in what PharmAust considers to be a strategically important relation­ship going forward," Dr. D'Sylva says.

 

Commonwealth is a solutions provider to the global biotechnol­ogy industry, academic institu­tions, government agencies, and pharmaceutical companies, offer­ing broad-ranging expertise and a complete array of analytical and synthetic chemistries and biophys­ical analysis technologies.