iuvo BioScience Acquires Promedica International to Expand Ophthalmic Clinical CRO Services

Partner Research Organization iuvo BioScience announced it has acquired Promedica International (PMI), an ophthalmology-focused clinical CRO.

Financial terms of the deal were not disclosed. 

The companies say the combined organization will support all aspects of ophthalmic clinical research, from front of the eye to back of the eye, leveraging a larger team of experts with experience in ophthalmology. As part of the transaction, iuvo has announced the appointment of Shannon Stoddard as President, Clinical Research, for the combined clinical research business. Ms. Stoddard will also serve on the Board of Directors of iuvo BioScience.

Backed by private equity firm Ampersand Capital Partners, the combined business will provide end-to-end laboratory, consulting, and clinical development services with a focus in ophthalmology and the broader medical device market. Through the combination, iuvo and PMI will support customers from the early preclinical and laboratory stages through all phases of clinical development within one integrated organization, according to a combined company news release. 

"The PMI team is thrilled to join iuvo BioScience. Our company was formed nearly 40 years ago with the sole focus of providing differentiated clinical research services to medical device and pharmaceutical companies across the globe. We have had an impressive track record of sponsor approvals and look forward to continuing this trend as part of iuvo," said Ms. Stoddard, President and Owner of PMI. "Throughout the years, our sponsors have remarked that when working with PMI, they consider our team to be more than a vendor, but instead an integral part of their clinical department. This is the highest compliment we can receive, and we strive to earn this sentiment with each clinical project we undertake."