KLSC completes successful exit of Clinart to CTI

(Kuwait City, Kuwait) - Kuwait Life Sciences Company (KLSC), announces the successful sale Clinart, a full-service contract research organization, with nearly 20 years of experience and strong local expertise in the Middle East and Northern Africa (MENA) region to CTI Clinical Trial and Consulting Services (CTI), a global, privately held, full-service contract research organization announces the acquisition of . Clinart was majority owned by Kuwait Life Sciences Company since 2012.

Commenting on the exit, KLSC CEO, Qais Marafie said: "KLSC is proud to see Clinart embark on its next phase of growth under an international best practice company such as CTI. Our journey with Clinart started back in 2012 and was in line with our 5P (platform strategy) to transfer the latest technologies and innovations into the Middle East and North Africa (MENA) thereby supporting the nascent life sciences sector. We wish both the Clinart and CTI management teams the best of luck in supporting the MENA CRO industry."

Clinart provides an extensive array of services, from early to late-stage research as well as product support in accordance with global and specific regional requirements.  Additionally, the Clinart footprint augments CTI’s current reach in the MENA region, with associates in Egypt, Morocco, Tunisia, Lebanon, Saudi Arabia, Kuwait, Jordan, Oman, and United Arab Emirates, enabling CTI to better serve our customers and their global programs.

Alaa Assem, MD, former CEO of Clinart, will now be Managing Director, MENA and will be integral to the success of the integration and the growth of CTI in the MENA region in the near and distant future.

“We are excited to have Clinart join CTI to create a stronger and more robust global full-service clinical research organization,” remarked Patrick J. Earley, CTI’s Chief International Business Officer. “This acquisition has been in the works for quite some time, and despite the global crises we’re currently experiencing, we felt passionately about moving this deal forward for the future success of our organization. In fact, this merger will allow both companies to continue and expand the global reach of their important work in COVID-19 research.”

“Joining CTI allows for our clients to have expanded industry leading therapeutic expertise, a broader global footprint, and a greater capacity for innovative solutions,” according to Alaa Assem, MD, MBA, Managing Director, MENA. “Our employees have been key to our success in the region the last two decades, and they will continue to use their local expertise to support CTI’s growth and projects.”

CTI, now in its third decade, will continue to be one of the 20 largest CROs in the world, now with associates in more than 60 countries across six continents. The company was recently named the #1 CRO in the world for quality at the 2020 CRO Leadership Awards, outperforming nearly 30 other recognized CROs from around the world. CTI is currently managing more than twenty active COVID-19 trials for treatment and prevention, in addition to work in regenerative medicine, rare diseases and other therapeutic indications.

For more information visit https://www.ctifacts.com/

Source: Kuwait Life Sciences Company
 

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