Poland-based Neuca Group, the parent company of CRO Clinscience, has taken a majority stake in Florida-based OncoBay to expand its reach in the U.S.
OncoBay, which is based in Tampa and was founded by the Moffit Cancer Center, is considered a “boutique” CRO that supports biotechs developing immuno-oncology therapies.
The investment, the financial terms of which weren’t disclosed, gives Neuca a 72.6% stake in OncoBay, which has been collaborating with Clinscience for over two years. The two companies are currently working together to advance “several dozen” immuno-oncology projects, Clinscience said in a Jan. 4 press release.
“Our combined powers, supercharged by complementing competencies, proprietary technologies and streamlined organizational structure, set the stage for a full-scale global alternative in the clinical research market,” Clinscience CEO Tomek Dabrowski said in the release. “It allows us to further expand our abilities in cancer research, providing our clients with comprehensive support in their pursuit to develop innovative cancer treatments.”
While Clinscience gets greater access to U.S. clinical trials and the regional biotech market, OncoBay will gain access to European clinical trials, according to the release.
In November, oncology-focused OncoBay inked a deal to use physIQ’s latest patient monitoring system to track participants during their clinical trial journey in order to evaluate the effectiveness of treatments in near real time.