MITRO Biotech Co., Ltd and XingImaging, LLC announced a definitive agreement to merge. According to data captured in the LevinPro HC database, this transaction marks the 34th contract research organization (CRO) transaction of the year.
XingImaging is a clinical PET imaging service and CRO that specializes in radiotracer production through positron emission tomography acquisition to evaluate. The CRO supports the development of treatments for neurodegenerative disorders such as Alzheimer and Parkinson disease, oncology and other disease pathologies. It has a location in Madison, Connecticut.
MITRO Biotech is a molecular imaging CRO company based in Nanjing, China. The company focuses on cancer, coronary heart disease, Alzheimer’s disease, epilepsy, Parkinson disease, Rheumatoid arthritis, Diabetes, gene expression and stem cell research.
Founded in 2012, MITRO Biotech was the first company in China to provide pre-clinical and clinical contract research services by applying molecular imaging technologies, according to the press release.
Chestnut Partners, Inc. acted as exclusive financial advisor and Goodwin Procter LLP served as legal counselor for XingImaging. DLA Piper UK LLC served as legal counselor to MITRO. PricewaterhouseCoopers served as consultant in financial due diligence and closing review.
As a combined company, Mitro will expand its capabilities to provide full CRO services, including clinical and clinical imaging management, in China and globally. The financial terms were not disclosed.
