Pace® Life Sciences Acquires Velesco Pharmaceutical Services, Expanding Capabilities in Drug Development Services
Acquisition adds significant experience and expertise in the development of liquid, semi-solid, and oral solid dose products for pre-clinical and clinical use, allowing Pace to support a growing number of clients throughout the drug development process.
MINNEAPOLIS, October 11, 2021 (Newswire.com) - Pace Analytical Life Sciences®, LLC, a subsidiary of Pace Analytical® Services, LLC, a full-service contract development and manufacturing organization (CDMO), today announced that it has acquired Velesco Pharmaceutical Services, Inc. Velesco, also a CDMO, specializes in liquid, semi-solid, and oral solid dose product development.
"Pace scientists and professionals provide expertise and support to clients throughout their drug development timeline," said Eric Roman, CEO of Pace Analytical. "Adding Velesco to our portfolio is representative of our commitment to supporting customers across the drug delivery spectrum."
The acquisition of Velesco allows Pace to extend a range of support options; from binary solutions to complicated self-emulsifying drug delivery systems (SEDDS) and tailor them to the client's molecule, dose range, and drug delivery route. Velesco also extends the expertise, experience, capabilities, and clinical trial material manufacturing capacity that Pace brings to clients, including:
- Expertise in developing pharmaceutical formulations for non-clinical toxicology studies
- Specialized capabilities for small-scale, customized experiments that preserve limited compound supplies
- Support for complex drug product formulations, including softgel capsule, suspension, and other non-sterile liquid pharmaceutical drug products
Velesco co-founder and CEO David Barnes, Ph.D., will transition to Vice President, Scientific Affairs, and Velesco co-founder and COO Gerry Cox will assume the role of Vice President, Commercial Development at Pace. In their new roles, they will maintain and extend their impressive legacy of serving clients while adding key insights and leadership to the Pace network.
"Dave Barnes and Gerry Cox have much to offer to the Pace team, and we are excited to have them continue on in key roles," notes Greg Kupp, President of Pace Life Sciences. "The reputation of the Velesco team, their strong history and flexible response to client demand, make this a great cultural fit while adding tremendous value to our clients."
In the coming months, Velesco will transition to the Pace brand. Velesco operates two sites in Wixom, MI and joins Pace Life Sciences locations near Boston, MA, St. Paul, MN, Philadelphia, PA, Salem, NH, and San Germán, PR.
Pace Analytical® is a portfolio company of Los Angeles-based Aurora Capital Partners.
About Velesco Pharmaceutical Services
Velesco Pharma was formed by former big pharma R&D colleagues and focuses on supporting early and later stage drug development. Velesco provides fast and cost-effective contract analytical development and drug formulation services, along with cGMP clinical supplies offering a full range of non-sterile dosage forms. The team offers personalized project management, state-of-the-art facilities and an experienced laboratory staff leading to comprehensive research relationships. More at Velescopharma.com.
About Pace Analytical Life Sciences®
Pace Analytical Life Sciences®, LLC. is a network of full-service contract CMC development and GMP analytical testing laboratories. CMC development, chemistry, and microbiology central lab testing services are provided to the pharmaceutical, biopharmaceutical, and gene therapy manufacturing industries. Our investment in state-of-the-art facilities and highly-trained experts emphasizes our commitment to delivering positive customer experiences across all channels of our business. We are dedicated to providing not only the best analytical testing services but the most reliable. A subsidiary of Pace Analytical® Services, LLC, Pace Analytical Life Sciences operates FDA-registered laboratory testing facilities in Oakdale, Minnesota, San German, Puerto Rico, and CDMO facilities in Woburn, Massachusetts, Salem, NH, Philadelphia, PA, and Wixom, MI. Learn more at PACELABS.com
About Pace Analytical® Services
Pace Analytical® Services, LLC makes the world a safer, healthier place. For decades, we have been the trusted source for quality life sciences and environmental lab testing and analysis and the resource for scientific lab staffing, regulatory, and equipment services. Our work is done in partnership with our clients by providing the science and the data they need to make critical decisions that benefit us all. Pace delivers science better to businesses, industries, consulting firms, government agencies, and more through the largest, American-owned, and nationally certified laboratory network. Science matters at PACELABS.com
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Media Contact:
Pam Bednar
Source: Pace Analytical Life Sciences
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Tags: cdmo, drugdevelopment, pharmaceutical
