Kancera acquires Swedish CRO iNovacia for undisclosed sum
STOCKHOLM, Sweden—Kancera, a cancer drug specialist, has purchased iNovacia, a provider of discovery and development services. iNovacia, a contract research organization (CRO), was founded in 2006 and provides lead identification services for such companies as AstraZeneca and Leo Pharma, according to Kancera CEO Dr. Thomas Olin, who identifies those capabilities as being the primary reason for the purchase. According to Olin, there are currently no reductions or expansions in the works for the near future, and iNovacia's partnership deals, particularly with Moscow, Russia-based Asinex and New Jersey-headquartered Provid Pharmaceuticals, will be maintained. Financial terms of the acquisition were not released.