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ChemDiv Group Acquires Prudentas Through ChemRar High Tech Center
Date:4/17/2009

SAN DIEGO, April 17 /PRNewswire/ -- ChemDiv, a global chemistry-driven contract research organization, announced today that its ChemRar High Tech Center has acquired Prudentas LLC, one of the leading CRO companies conducting high quality Phase I - Phase IV studies in Eastern Europe. Prudentas will continue to operate separately under the business name Prudentas LLC, a ChemDiv Group company.

Prior to the acquisition ChemDiv had worked with Prudentas, who established itself as an experienced, professional, and reliable CRO collaborator, in response to a growing interest of ChemDiv's pharmaceutical and biotech partners in conducting quality and expeditious clinical trials.

ChemDiv sees great potential in this acquisition by adding value to ChemDiv's Discovery outSource(TM) services offered to pharmaceutical and biotech companies worldwide.

Nikolay Savchuk, President and CEO of ChemDiv, Inc. commented: "Our decision to make this investment capitalizes on the growing trend of conducting clinical trials in Eastern Europe; based on the availability of naive patient populations, rapid and efficient trial recruitment and high data quality across a broad range of therapeutic indications including CNS, cardiovascular and metabolic disorders, oncology, inflammation, and infectious disease; areas already covered by our Discovery outSource(TM) service. This acquisition is synergistic to the continued development of our Chemical Diversity Research Institute subsidiary, and our other discovery services holdings such as Drugs Technology Ltd., which provides GLP/GMP formulation and CMC services. We believe Prudentas will help us bring unique levels of clinical development productivity to pharma and biotech partners through risk mitigation, cost- and time savings. This acquisition further strengthens and expands our global presence specifically in the Eastern European and Eurasian markets and responds to growing custome
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SOURCE ChemDiv, Inc.
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