RELEASE: ClinChoice Acquires CROMSOURCE, Expanding Its Global Presence

(Information sent by the signatory company).

RELEASE: ClinChoice Acquires CROMSOURCE, Expanding Its Global Presence

(Information sent by the signatory company)

PHILADELPHIA, SHANGHAI and VERONA, Italy, March 2, 2023 /PRNewswire/ -Clinchoice Medical Development is pleased to announce its acquisition of CROMSOURCE S.R.L., an ISO-certified full-service contract research organization with its corporate headquarters in Verona, Italy. and its US headquarters in Cary, NC. CROMSOURCE has operating subsidiaries in the United States and seven countries throughout Western and Eastern Europe, along with staff based in the field at various locations in Europe and the United States.

Founded in 1997, CROMSOURCE has a proven track record of supporting global pharmaceutical, biotechnology and medical device clients with exceptional clinical research capabilities and personnel. The acquisition will strengthen ClinChoice's global network and deepen its full-service capabilities.

ClinChoice's commitment to best-in-class quality and on-time delivery of its services has resulted in a strong track record of successful trial execution and clinical functions, including biometric, regulatory, security, medical, and clinical operations. ClinChoice provides these services in the drug, medical device, vaccine, cosmetic, and consumer health sectors using project-based models and FSPs. As a global CRO, ClinChoice provides solutions across the entire development lifecycle for pharmaceutical, biotech, medical device, and consumer companies around the world. The company's clientele ranges from the largest multinational companies to startups and emerging companies. ClinChoice has completed more than 1,500 clinical studies in multiple therapeutic areas, including oncology, CNS, rare diseases, ophthalmology, metabolic, and respiratory, among others.

"We are excited to work with CROMSOURCE and expand our coverage in Europe and the United States to better meet the needs of our global customers and accelerate product development and support lifecycle management. Strategically, the acquisition of CROMSOURCE provides us with a team highly experienced team of operational and technical experts in Europe and North America, adding to our existing capabilities in clinical development and staffing solutions services," said Ling Zhen, President and Global CEO of ClinChoice.

"The acquisition of CROMSOURCE brings a significant enhancement to our talent pool. It enhances our operational capabilities with additional delivery centers to complement our current network in Europe and the United States. This merger also expands our data science technology offerings in many areas , including decentralized clinical trials and risk-based monitoring," said John Balian, co-founder and CEO of ClinChoice, Inc, who leads the company's US, European and Southeast Asian operations.

CROMSOURCE Founder and CEO Oriana Zerbini said: "We are delighted to combine Cromsource's deeply experienced and talented team with clanchoice's. The two companies offer such clear synergies that it was an easy decision to join Ling, John and the rest of the awesome Clinchoice team. We look forward to becoming the CRO partner of choice for any client anywhere in the world."

Fairmount Partners advised CROMSOURCE, and Clinchoice was represented by Crosstree Capital.

About ClinChoice ClinChoice is a global clinical CRO dedicated to providing high-quality services to biopharmaceutical, vaccine, medical device and consumer products companies. These services include clinical operations, project management, biostatistics, data management, regulatory affairs and medical affairs, pharmacovigilance, cosmetovigilance, toxicology, as well as medical writing and other product development services. ClinChoice has delivery centers in the United States, Europe, Canada, China, India, Japan, and the Philippines, with more than 4,000 dedicated professionals.

About CROMSOURC CROMSOURCE is an ISO and full-service international CRO specializing in clinical operations and development and flexible resource solutions delivered by stable teams of highly experienced professionals. CROMSOURCE operates offices in all regions of Europe and North America and undertakes projects globally.

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