July 8, 2020, Dusseldorf, Germany – MLM Medical Labs GmbH (“MLM”), a Great Point Partners (“GPP”) portfolio company, today announced the acquisition of CirQuest Labs, based in Memphis, TN, USA.
CirQuest Labs was founded in 2008 by Lisa K. Jennings, Ph.D, a former tenured Professor at the University of Tennessee Health Science Center, who has since been the owner and CEO .
The combination of a strong scientific driven background, as well as the knowledge and the services in place on how to design and run clinical trials, successfully makes CirQuest the ideal partner. Pharmaceutical and medical device companies value their support in non-clinical and clinical services bringing their drugs and products to the market.
With the acquisition of CirQuest, MLM strengthens its capabilities to perform highly specialized lab services in Europe, as well as in the US.
“We are very excited about this big step in MLM’s ongoing success story. We will now be able to serve our clients through our own US based MLM subsidiary. The demand for 100% harmonized central lab services across continents is rapidly rising. Having branches in Europe and the US offers extensive opportunities for MLM and our clients”, states Prof. Stephan Wnendt, Ph.D., CEO of MLM.
“From the very first moment there was a great connection between Lisa and the MLM team. It’s not only the similarities in the way our labs are set up, but even more the shared passion for our clients and their projects. We are very proud to have Lisa with her outstanding academic reputation on board who will serve as Chief Scientific Officer for both labs .“
Dr. Lisa Jennings also added: “There are people who research well and people who run clinical trials well – these skill sets do not always overlap. By combining two excellent enterprises like MLM and CirQuest we have the opportunity to bridge the gap between the two. MLM’s core values – scientific excellence – personal accountability – customized solutions - perfectly align with our philosophy and I am very much looking forward to joining the MLM family for the benefit of both of our companies. Our combined highly specialized clinical trial services will give our clients greater flexibility and maximum support in both Europe and the US.”
Within the next couple of months both teams will work intensively to harmonize procedures and quality standards to become a fully integrated global central and specialty lab which will serve a constantly growing global customer base.
Finally, MLM is very proud to announce that Thomas Wollmann, SVP Finance at Syneos Health, has joined MLM’s Board of Directors as of July 7, 2020. With his more than 25 years of experience in the central laboratory and CRO market, including responsibility for Quintiles’ central lab operations, he will help the team to further develop MLM as one of the leading international central labs for clinical trials.
About MLM Medical Labs
MLM Medical Labs founded 1993 is a Central Laboratory dedicated exclusively to clinical trials. MLM offers a full range of laboratory services, including specialized biomarker testing, clinical chemistry, standard safety profiles, clinical chemistry, and analyses of drug compounds, metabolites and molecular diagnostic parameters. Internationally active in over 40 countries, including the U.S. and Eastern Europe, MLM is headquartered in Moenchengladbach, Germany (near Duesseldorf International Airport). MLM works 365 days a year in order to ensure valid, high-quality, results with a quick turnaround time. In December 2019 MLM became a Great Point Partner portfolio company.
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About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $2.2 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $306 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.6 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
Reach Great Point at 203-971-3300 or www.gppfunds.com.