Newly formed Novotech Health Holdings will serve Asia to meet the rapidly growing demand for quality clinical trial services in the region.
Starting October 2020, Novetech and PPC Group, two Asian contract research organizations (CROs) will be merged to form Novotech Health Holdings. This will create a seamless and scalable CRO platform to serve the rapidly growing demand for quality clinical trial services in Asia. The new entity will become the largest biotech specialist CRO that can deliver full clinical services, from first-in-human to phase IV clinical studies, in Asia.
Chairman of Novotech Holdings and TPG Capital Asia’s Head of Australia and New Zealand Joel Thickins said, “This merger is a significant milestone that will unite two complementary CRO platforms to create a more powerful, scalable entity that can better address client needs in Asia. With world class service, broad geographical coverage, and local expertise and delivery, Novotech Holdings is well positioned to grow in tandem with the rapidly developing demand for quality clinical trial services in Asia.”
Both organizations announced a strategic partnership in 2019, putting in place an integrated governance structure with aligned key systems and processes, allowing for continued collaboration of major biotech clinical trials in the region.
The formation of Novotech Holdings will cement the partnership between the two subsidiaries, bringing together approximately 1,550 staff with significant scale and synergies across countries, research institutions, trial phases, therapeutic areas and functional specialities. Novotech Holdings is majority owned by TPG Capital Asia funds.
With the merger, John Moller, formerly CEO of Novotech, has been appointed Chief Executive Officer of Novotech Holdings, and Michael Stibilj, formerly CEO of PPC Group, has been appointed Chief Operating Officer of Novotech Holdings.
John Moller, CEO of Novotech Holdings said, “I am honoured to have the opportunity to lead
Novotech Holdings as we look to increase the quality and efficiency of our operations and capitalize on the significant growth opportunities across the region. Novotech and PPC are highly complementary CRO platforms, and together we will have unmatched data analytics and insights in the region, as well as bring together a stronger pool of operational talent. This will allow us to better support drug innovation across major markets including China, Korea and other countries in Asia by delivering an end-to-end suite of services that can only be achieved with the combined expertise of Novotech and PPC.”
Novotech Holdings COO, Michael Stibilj, said, “The biotech industry is booming in Asia. Driven by unprecedented biotech innovation and increasing recognition of the quality of regional drug research and development, we are seeing rapidly growing demand for clinical trial services across the region. Combined, Novotech Holdings will become the largest biotech CRO specialist in Asia, and I look forward to growing our presence in the region and supporting our customers’ success.”
Drawing from their past experience leading Novotech and PPC Group, respectively, John and Michael will continue to build on the exceptional foundation that has been established to form the leading specialist biotech CRO in Asia. [APBN]