Newark-based QPS Holdings, LLC (QPS) a drug development Contract Research Organization last month announced an agreement to sell its Neuropharmacology business unit o Scantox, a company bsaed in Denmark.
QPS Neuropharmacology, based in Grambach, Austria, focuses on drug discovery and specializes in neurodegenerative diseases, rare diseases and mental disorders.
A release cited a strong global reputation, continued growth and a broad customer base as factors that made the European business an attractive acquisition candidate.
QPS Neuropharmacology is based in Grambach, Austria, and employs more than 80.
After the sale is complete, QPS will retain the European clinical division including service capbilities in Austria, The Czech Republic, and Croatia.
“The sale of QPS Neuropharmacology is a natural transition in the development of QPS as a full-service, global CRO focused on preclinical, bioanalysis and clinical research operational services. We believe that the neuropharmacology unit will be strengthened and continue to grow as part of the Scantox organization” says Ben Chien, CEO of QPS Holdings, LLC.
QPS Neuropharmacology will continue to serve its clients as part of the Scantox organization. The combined company will have more than 300 employees across six sites.
Since 1995, QPS has expanded from a small bioanalysis shop to a full-service CRO with 1,200-plus employees in the US, Europe, India and Asia. Further information is available at www.qps.com.
