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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 customer demand for comprehensive R&D outsourcing."

Dmitry Prudnikov, CEO of PRUDENTAS LLC, noted: "Since its creation Prudentas focused on early phases of clinical trials, and integration with ChemDiv will allow our clients to get unique opportunity in studying their compounds with us from pre-clinical testing to Proof-of-Concept trials. Our such "solid program" integrated approach to increasing external R&D programs value will certainly save time and money for our clients, and creates an attractive proposition for many of our existing and potential sponsors.

About ChemDiv

ChemDiv, Inc. (ChemDiv) is a global contract research discovery and development organization headquartered in San Diego, CA, USA with subsidiaries in Russia, business and logistics operations around the world. ChemDiv provides external integrated discovery and development solutions to pharma and biotech partners based on the Discovery outSource(TM) platform. It covers the complete range of disciplines needed to bring a CNS, oncology, inflammation, metabolic and infectious disease projects from identification of a biological target to clinical drug and drug development candidates. Visit www.chemdiv.com for more information.

About Prudentas

PRUDENTAS is a Clinical Contract Research Organization founded by and consisting of highly qualified clinical research professionals with extensive experience of working previously together as a team. PRUDENTAS appeared in response to the growing interest of pharmaceutical and biotech companies in conducting clinical trials in Russia and Ukraine, which resulted in the increasing number of clinical trials brought here within the last years.

PRUDENTAS aspires to mirror the highest international standards of service and quality, strictly adhering to the legal regulations of countries where it operates and that of the home countries of its clients.

PRUDENTAS is a client-focused, performance-driven, and result-oriented team offering to pharmaceutical and biotech companies a cost-effective solution for Phase I -- IV clinical trials conduct in Russia and Ukraine with fast recruitment and high quality. For more information please visit www.prudentas.com.

About ChemRar

The ChemRar High-Tech Center is a unique pharma and biotechnology complex in founded Moscow, Russia by highly innovative life science R&D organizations. ChemRar's component companies are engaged in discovering, developing and commercializing novel drugs for partners in Russia and worldwide. ChemRar's mission is to bring novel therapies for unmet needs in treating CNS, oncology, cardiovascular, metabolic and infection disease using novel post genomic technology platforms.


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SOURCE ChemDiv, Inc.
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