Nordic Capital, Astorg jointly acquire Cytel
Nordic Capital and Astorg have jointly acquired acquire Cytel Inc. from New Mountain Capital. Cytel is one of the largest providers of statistical software and advanced analytics for clinical trial design and biometrics execution.
Building on Cytel’s advanced software platform and leading biometrics services offerings, the new owners say they will invest in the continued development of the business and its software.
Cytel’s mission is to continue providing life sciences companies with cutting-edge clinical trial optimization technologies and harness the full value of their clinical and real-world data. Cytel’s management team, led by CEO Josh Schultz, will continue to lead the organization, building on a strong track-record of organic growth and strategic acquisitions.
Cytel is recognized as an industry pioneer of adaptive clinical trials and other innovative quantitative methods, helping biotech and pharmaceutical companies to reduce risk, increase R&D productivity and support medical innovation, improving speed, productivity and efficiency of clinical trials. The Company was founded over 30 years ago by statisticians Cyrus Mehta and Nitin Patel, thought-leaders in statistical science, who will continue to be active in the Company.
Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. Cytel’s software and services are used by over 500 life sciences customers, including the world’s 30 top pharmaceutical companies, as well as regulatory bodies such as the FDA.
The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.
