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GVK Biosciences, part of the diversified GVK Group, is close to acquiring Spectrum Biosciences, which is based in Frostburg, Maryland (US). Spectrum Bio provides dedicated contract compound management services to the life sciences industry.
An indication of the likely development came during an interaction between the Governor of Maryland, Mr Martin O'Malley, and the top management of the GVK Group here today. GVK Biosciences is a rapidly growing contract research organisation. The Governor told Business Line that the deal size could be around $3 million.
The advantage for the GVK company would be access to the US market offering services as well as accelerating approach to regulatory needs, he felt. Spectrum Biosciences has facilities and trained personnel to provide customers with efficient management of chemical compounds so that drug companies can focus on research and development.
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