Cello Health to acquire US-based Innovative Science Solutions
Based in New Jersey, ISS specialises in strategic counsel and regulatory support for the US healthcare industry, having helped its clients successfully navigate FDA advisory meetings. The firm also aids their clients with data provision and intellectual property issues.
The deal will see Cello pay $6.4 million upfront and up to a further $4.1 million in milestone payments over the period from 1 August 2019 to 31 July 2024.
Julia Ralston, CEO of Cello Health US, commented: "We are excited about the acquisition of ISS at this stage in our US evolution. ISS has built a strong reputation for provision of its scientific consulting services.”
The acquisition demonstrates Cello’s strategic efforts to further expand within the US market, as well as adding a key incremental component to Cello's offering of technical services along critical drug development pathways.
Cello has said that it anticipates ISS’s operating profits to be lower than historical levels post completion, reflecting the investment in senior headcount required as the business rapidly develops the scale of its professional base to support its growing client franchise.
Looking forward, Cello has said it expects there will be strong mutual client opportunity over time.
“Adding this technical offer will benefit our clients, particularly by tackling their biggest challenges in navigating critical scientific, commercial, and regulatory pathways to successful commercialisation,” Ms Ralston further commented.
The value of the acquisition was mutually acknowledged by both parties, with Co-Founder of ISS, Steven Weisman, adding, "Cello Health's core capabilities and market reach greatly enhance the value we can offer our clients in addressing their scientific needs that span the health care product lifecycle. We are extremely excited to be joining Cello Health.”
Follow News & Updates on Cello Health here:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.