DATE: July 02, 2020
Who is Our Client?
- CirQuest Labs is a laboratory and clinical trial support services company, serving the specialty needs of the pharmaceutical, biotech and device industries from discovery/pre-clinical to Phase IV stage of clinical trials.
- Founded in 2008, CirQuest is located in Memphis, TN with a 28,000 square feet facility containing significant laboratory space, biostorage areas, collaborative workstations, conference rooms and offices.
- CirQuest is an industry leader in specialized laboratory services for the drug development industry and provides specialized assay development, biomarker testing and central lab services to its global client base of leading pharmaceutical and life sciences companies.
- Lisa K. Jennings, PhD founded CirQuest as an extension of her successful basic and translational research program as a faculty member at the University of Tennessee Health Science Center.
Why Did CirQuest Labs Hire Nolan?
- Dr. Jennings sought an exit partner capable of continuing CirQuest’s team-first culture, focus on scientific excellence and growth trajectory.
- Dr. Jennings chose Nolan given the firm’s expertise in the laboratory services industry and global reach for private equity investors and strategic buyers.
What Value Did Nolan Deliver?
- Nolan’s sale process delivered MLM Medical Labs, a specialty central lab based in Germany and a Great Point Partners portfolio company.
- Founded in 1993, MLM is dedicated exclusively to clinical trials and Internationally active in over 40 countries, including the U.S. and Eastern Europe.
- MLM offers a full range of laboratory services, including specialized biomarker testing, clinical chemistry, standard safety profiles, and analyses of drug compounds, metabolites and molecular diagnostic parameters.
- Founded in 2003 and based in Greenwich, CT, Great Point is a leading health care investment firm with approximately $2.2 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada and Western Europe.
- “CirQuest has an excellent reputation in the centralized lab industry with a core focus on scientific excellence and customized service. A combination with MLM will allow us to better serve our combined customer base through a globally integrated platform,” said Dr. Stephan Wnendt, MLM CEO.
- With the acquisition of CirQuest, MLM has expanded to the U.S. and will be able to better serve the needs of its global clients.
- “MLM is known globally as a leader in central lab and specialty testing solutions and together we have an extraordinary synergy in terms of our collective focus on scientific excellence and customized services. We are looking forward to joining forces and establishing a fully integrated central lab under one harmonized global brand,” said Dr. Lisa Jennings, Founder and CEO of CirQuest.