Spanish cancer services firm Medsir has set its sights on Latin America by forging a partnership with Brazilian oncology research chain Oncoclínicas.
Through the “strategic alliance,” Medsir will gain access to a network of oncology specialists as well as Oncoclínicas’ genomics and diagnostic platform. The firm said it will be able to create and design intelligent trials as a result of the deal.
A spokeswoman told Fierce Biotech the deal will let Medsir further its international expansion across Latin America. Oncoclínicas, which lists Goldman Sachs as its controlling shareholder, also has collaborations with the Dana-Farber Cancer Institute in Boston and the Weizmann Institute of Science in Israel.
The deal will see Oncoclínicas acquire a 49% holding in Medsir for 5.75 million euros ($6.4 million) and agree to pay up to an additional 3.5 million euros ($3.9 million) subject to the achievement of specific business goals. In addition, the alliance includes a direct capital investment of 2.75 million euros ($3 million) in Medsir to expand its operations in Europe and the U.S.
Medsir does not define itself as a clinical research organization. The firm subcontracts work to local CROs and instead focuses on taking ideas investigators or drug firms have for trials and turning them into a reality, the spokeswoman explained.
“We connect scientific knowledge with the pharma and biotech industry to better focus the drug development to its future market. The differential value of Medsir is in the initial part of the clinical drug development," the spokeswoman said.