|RESEARCH TRIANGLE PARK, N.C. & MELVILLE, N.Y. -- Novella Clinical Inc. (formerly PharmaLinkFHI) and OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) announced today that the Companies will expand their existing clinical service agreement. Under the terms of the new agreement, effective February 1, 2010, Novella will provide clinical research and related services to OSI for a period of two years as OSI transitions its clinical operations to its new Ardsley, New York campus. Novella will assume use of some of OSI’s facilities in Boulder and employ members of OSI’s Boulder staff.
“We are excited to be expanding our footprint and adding to our Novella family,” stated W. Richard Staub, President and Chief Executive Officer of Novella Clinical. “This agreement offers many advantages to Novella and will help us realize a number of our corporate objectives. As a CRO focused on biotech and medical device companies, many of our clients are located on the west coast and having an office in the western part of the country will allow us to better service their needs. Additionally, as OSI’s pipeline is primarily focused on oncology products, the OSI staff joining Novella will bring a depth of experience that will strengthen what is already our largest therapeutic category.”
OSI had previously announced, in July 2009, plans to consolidate its U.S. operations onto a single campus located in Ardsley, New York. OSI has begun consolidation of approximately 350 current U.S. employees from its facilities in Melville and Farmingdale, NY, Boulder, CO, and Cedar Knolls, NJ.
“This is a win-win agreement between OSI and Novella and for the OSI Boulder employees who have chosen not to relocate with the Company,” stated Colin Goddard, Ph.D., Chief Executive Officer of OSI Pharmaceuticals. “As we execute our plan to capture the full strategic value of our oncology franchise and to simplify our business by bringing all our U.S. employees onto one campus, the expanded agreement will provide continuity of clinical operations, biostatistics, medical writing and regulatory affairs for certain ongoing clinical studies as the Company transitions functions to its new campus in Ardsley, New York.”
About Novella Clinical
For over a decade, Novella Clinical has been an active partner in supporting the medical device and biopharmaceutical industries with early phase through post-marketing development programs. Although our clinical experience is all-inclusive, our eClinical roots enable us to offer services that are specific to our clients’ needs, often eliminating the demand to contract with multiple partners. From protocol development through final clinical study report — we integrate deep clinical expertise with industry-leading technologies and a proven approach to support, streamline and expertly resource the entire product development process. Our focus on quality customer service is reflected in our certification by Underwriters Laboratories on meeting global quality standards (ISO 9001:2008). For more information, visit www.novellaclinical.com.
About OSI Pharmaceuticals
OSI Pharmaceuticals is committed to "shaping medicine and changing lives" by discovering, developing and commercializing high-quality, novel and differentiated targeted medicines designed to extend life and improve the quality of life for patients with cancer and diabetes/obesity. For additional information about OSI, please visit www.osip.com.