Source Bioscience acquires Cambridge Clinical Laboratories

Source BioScience UK Ltd, an industry-leading provider of genomic services and histopathology diagnostics, today announced it had completed the acquisition of Cambridge Clinical Laboratories (CCL), a leading Cambridge-based provider of clinical, personalized healthcare testing services. The acquisition bolsters the Company's clinical diagnostics portfolio by leveraging the expertise of the CCL team and new state-of-the-art clinical lab facilities at Vision Park in Cambridge, providing streamlined testing services for both preclinical and clinical research.

CCL provides personalised healthcare diagnostic services spanning oncology, virology, men's health, gastro and fertility, as well as validation studies for clinical research, to both the NHS and private customers worldwide. The acquisition will complement Source BioScience's established capabilities in genomics and multiomics, and expand its existing clinical offering, which includes molecular diagnostics, digital pathology and clinical trial support, to provide a complete laboratory service portfolio. By offering comprehensive, end-to-end testing solutions, researchers can confidently progress candidates through R&D, to preclinical and clinical stages with one specialist outsourcing partner - minimising resource requirements and data bias across the entire development process, with the option for additional support in clinical research and diagnostics.

All staff and assets from CCL will be transferred to the new clinical facilities at the existing Source Genomics site at Vision Park. The facilities will provide a significantly larger laboratory footprint, enabling the Company to expand the capacity of existing services and explore new capabilities for future projects. In addition, the site will increase opportunities for collaboration between the genomics and clinical services teams, providing customers deeper insights into their data.

We're extremely pleased to welcome Cambridge Clinical Laboratories into our team here at Source BioScience."

Jay LeCoque, Chairman and CEO, Source BioScience

He continued: "CCL has a longstanding reputation for its expertise in personalized clinical diagnostic services, and as such, represented the ideal opportunity to complete our service offerings. By investing in a new clinical lab facility and bringing in the talented team at CCL, we will open up significant new market opportunities in clinical diagnostics and be able to support our customers through all stages of their programs."

Tony Cooke, former CEO and CSO, Cambridge Clinical Laboratories, commented: "Source BioScience is a well-established leader in the biopharmaceutical and broader life science service sector, providing data-rich insights into research projects through its genomics and multiomics services, as well as its range of clinical offerings. We welcome the opportunity to join forces with Source, which will allow us to bring together the talent and expertise of both companies, ultimately adding more capacity for customers to access these cutting-edge research services, and bring new therapies to patients, faster."

Financial details have not been disclosed.