Following the acquisition, R5 is expected to retain its current identity and brand and will become a subsidiary of Aesica Pharmaceuticals.
Aesica Pharma said that the capability and experience of the people at R5 will be utilised entirety and as the business continues to expand and evolve, it will benefit from the support and investment provided by Aesica.
Robert Hardy, CEO of Aesica Pharma, said: “The acquisition of R5 is strategically crucial for our business as we extend and enhance our current offering. R5 has a proven track record in delivering early phase formulation development and its reputation within the emerging biotechnology industry was of particular interest, as we begin to increase our portfolio of clients within this field.
“We are hoping to harness the exceptional expertise and knowledge across the team at R5 to facilitate our continued expansion and to achieve our vision of becoming the leading supplier of Active Pharmaceutical Ingredients and Formulated Products to the global pharmaceutical and biotechnology industries.”
Paul Titley, managing director of R5, said: “The all-inclusive service offering provided by Aesica is rare and we believe our early stage research and development experience will add a new and invaluable dimension to the business.”