At the time, Reynders explained that CAC’s clinical “complement the clinical services that AAIPharma currently provides its clients," adding that this would be the firm’s focus going forward.. In the subsequent years AAIPharma has made considerable efforts to expand its clinical business in emerging trial hubs like Eastern Europe and, more recently, Latin America with the acquisition of. Sep 28, · The new president and CEO is Ludo Reynders, 50, who most recently held executive posts at Quintiles Transnational, a medical research services unit of Pharma Servicesin Durham, N.C. The suggestion is that aaiPharma is poaching senior Quintiles executives as it tries to turn around the business, which fell into bankruptcy and accountancy scandals as a pharmaceutical manufacturer but re-invented itself earlier this year as a privately-held drug development services company.
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And earlier this week aaiPharma appointed yet another former Quintiles executive, the seventh to date, naming Mark Tyson to the position of senior vice president of information systems and technology. The suggestion is that aaiPharma is poaching senior Quintiles executives as it tries to turn around the business, which fell into bankruptcy and accountancy scandals as a pharmaceutical manufacturer but re-invented itself earlier this year as a privately-held drug development services company.
The lawsuit is a real David and Goliath battle — with Quintiles operating in 50 countries worldwide and with 16, employees, while AAIPharma has around staff and offices in 11 countries. But AAIPharma seems to have won the first exchange, with Quintiles being denied a temporary restraining order last month. Free news subscriptions Free RSS feeds. Quintiles sues aaiPharma for poaching execs 18th July Neither company was prepared to comment on the legal action.
Quintiles sees jump in trials applications. Quintiles hikes Phase 0 service via Accium deal. Contract drug development sector set for healthy growth.
It was very important to identify an equity sponsor capable of understanding the development-stage assets, growth potential of the products, complexity of the situation, and having the financial scale to complete the transaction," said James H.
Cavanaugh, Ph. Nuerge added, "A significant feature of the transaction will be an on-going relationship between Xanodyne and aaiPharma Development Services, and we hope to be one of aaiPharma Development Services' preferred customers.
We are committed to using their cutting edge technology and top-notch development services to complete our current pipeline and further extend it. Ludo Reynders, Ph.
A new Board of Directors has been established to guide the organization. James Cavanaugh, Ph. MPM , Steven St. Cavanaugh continues as chairman of the board.
The company, located in the greater Cincinnati area, has a nationwide sales force and currently markets numerous pharmaceutical products.
MPM Capital L. One of the largest investment management firms dedicated to the life sciences sector, MPM Capital has offices in Boston and San Francisco. MPM's portfolio ranges from start-ups to large capitalization public companies, with a primary focus on biopharmaceutical and medical device companies nearing commercialization of products or those companies that already offer product-driven opportunities. Apax Partners is one of the world's leading private equity investment groups, operating across the United States, Europe and Israel.
With more than 30 years of direct investing experience, Apax Partners' Funds provide long-term equity financing to build and strengthen world-class companies. It pursues a multi-stage equity investment strategy, investing in late venture, growth capital and buyouts.
External links Xanodyne website. Apax Digital Apax Global Alpha.