Canyon Labs Acquire's iuvo BioScience’s Lab Services and Consulting Businesses

Canyon Labs, a provider of analytical & packaging lab testing and consulting for medical devices and pharmaceuticals, has acquired the laboratory services and scientific consulting divisions of iuvo BioScience, a provider of ophthalmic medical device and pharmaceutical clinical research services.

Financial terms of the deal were not disclosed. 

In a news release, Canyon stated that the transaction positions the company to deliver end-to-end solutions in pharmaceutical and medical device development; while iuvo BioScience will focus on ophthalmic clinical development contract research. 

“This acquisition marks a significant milestone in the growth of Canyon Labs' capacity and capabilities,” Sarah (Rosenblum) Ptach, President of Canyon Labs, said in the news release. “By strategically aligning our organizations, we are delivering immediate value to our global client base through faster lead times, expanded capacities, and unparalleled expertise at every step of the process. This integration strengthens our commitment to raising the standard of service in outsourced testing and consulting for the healthcare industry.”

"This transaction marks a defining moment for iuvo,” said Ben Burton, President and CEO of iuvo BioScience. "This strategic decision reinforces our fundamental mission of accelerating patient access to breakthrough vision care treatments. By sharpening our focus on our ophthalmic clinical contract research business, we're strengthening our ability to provide the high touch, science-driven solutions our customers and partners have come to expect from iuvo."