PRESS RELEASE, 7-11-2016

Citoxlab acquires AccelLAB, a Canadian CRO specialized in pre-clinical assessment of medical devices

 Evreux (France), Laval and Boisbriand (Canada), November 8, 2016 – Citoxlab, a leading player among preclinical CROs, announces today the acquisition of AccelLAB, a Canadian CRO specialized in the pre-clinical assessment of new medical devices. Through this acquisition, Citoxlab Group reinforces its position in the non-clinical CRO arena and enlarges its services portfolio to medical devices, a fast growing area which offers large synergies with drug development, the Citoxlab’s core business.

AccelLAB was founded in 2004 by Dr. Guy Leclerc, an Interventional Cardiologist who headed the department of Cardiology and Cardiac Surgery of the Centre Hospitalier de l’Université de Montreal (CHUM). As an interventional cardiologist practitioner, Guy Leclerc has been a pioneer in applying what we call today translational research in the field of medical devices, helping client companies in the development of new cardiac stents, valves, pacemakers, etc. The services were more recently enlarged to other areas such as orthopedic, ENT (Ear, Nose and Throat) and dermatology specialties.

AccelLAB has a staff of around 100 people and the facilities include operating rooms, in particular for cardiac catheterization, state-of-the-art laboratories, a large vivarium, a medical imaging department (scanning and MRI) and clinical pathology and histopathology laboratories.

Dr. Jean-François Le Bigot, Chairman and CEO of Citoxlab Group stated: We identified AccelLAB as a strategic target to make our group a more global services player in the Life Sciences Services arena. Within Citoxlab Group, AccelLAB allows the convergence process between the development of new drugs and medical devices which represents a new offer to the customers in particular in the cardiovascular, orthopedic fields and more generally in the regenerative medicine. We have been convinced by the high scientific approaches of AccelLAB, the depth of its methods and technologies combined with strict regulatory compliance but also, by the personality of the founder Guy Leclerc who is so committed himself to the progress in translational research with a strong entrepreneurship spirit.”

Dr. Guy Leclerc, Cardiologist at the CHUM, Chairman and CEO of AccelLAB, added: “We are very proud and enthusiastic to join the Citoxlab Family. Considering the proximity of our sites, both near Montreal, the synergies, in particular operational ones will be so easy to set up. Citoxlab has large capacities in histology, pathology, bioanalysis and biomarkers, which are of interest for us, when we have several platforms of imaging of interest for them “.

 Following this acquisition, Dr. Guy Leclerc remains the Managing Director of AccelLAB. Citoxlab continues its growth strategy and becomes a group with more than 1.000 staff in 4 countries (France, Canada, Hungary and Denmark) and revenues upper to €100 million realized for more than a third in North America.


About Citoxlab:

With six facilities located in France (Evreux, Saint-Nazaire), Canada (Montreal), Denmark (Copenhagen) and Hungary (Veszprem), Citoxlab Group offers a comprehensive range of preclinical services to meet the needs of pharmaceutical, biotechnology, medical device and chemical companies worldwide.

Citoxlab carries out studies in general and reproductive toxicology, carcinogenicity, immunology, pharmacology, pharmacokinetics and bioanalysis/biomarkers.

Through Atlanbio (Saint-Nazaire, France), Citoxlab offers extensive preclinical and clinical bioanalysis and biomarker services.

With AccelLAB joining the Group, Citoxlab provides efficiency and safety studies in the field of medical devices (cardiology, ENT, orthopedics, dermatology and regenerative medicine).

A partnership with Stemina (Madison, USA) allows the Group to offer screening services using human embryonic stem cell models.

Citoxlab has more than 1.000 employees working at six sites representing 70,000 sq meters of state-of-the-art facilities. The company has a world-class top-level management team in scientific, financial and business activities.

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About AccelLAB:

Created in 2004, AccelLAB is a preclinical Contract Research Organization (CRO) dedicated to the medical devices and biotechnology industry. The Company is specialized in particular in the fields of the cardiology and the orthopedics. AccelLAB offers to its partners a completely integrated research center allowing to lead efficiency and safety studies of renowned quality. AccelLAB has a staff of around 100 people and the facilities (about 40,000 sq feet total) are equipped with the state of the art technologies in the fields of surgery and medical imaging like scanning and MRI.

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 Advisor Citoxlab :

> Legal advice: Borden Ladner Gervais S.E.N.C.R.L., S.R.L. – (Pascal de Guise, Pascale Dionne), Goodwin Procter (France) LLP – Paris – (Maxence Bloch, Benjamin Garçon)

> Financial due diligence: Ernst & Young s.r.l./S.E.N.C.R.L.  Montréal (Mylène Lewac, Julie Marineau)

> Fiscal due diligence: Ernst & Young s.r.l./S.E.N.C.R.L. (Christian Desjardin, Krista Robinson)

> Legal due diligence: Borden Ladner Gervais S.E.N.C.R.L., S.R.L. – (Pascal de Guise, Yaniv Saragosti)

Advisor AccelLAB :

> Financial advice: PwC Corporate Finance: (Charles Godbout – Eric Lemay)

> Legal advice:McMillan LLP – Montreal (Jean-Francois Pelland, Michel Ranger), Mayer Brown – Paris (Arnaud Mouton, Arnaud Peres)
> Fiscal advice: Raymond Chabot Grant Thornton – Montréal (Édith Pion, Chantal Coté)