Mergers & Acquisitions: Bio-Imaging Technologies buys Theralys

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Bio-Imaging Technologies has acquired Theralys SA, a provider of customized imaging services in the field of central nervous system disorders (CNS) and Neurovascular diseases. Theralys' proprietary image processing software enables the introduction of quantitative imaging markers in the design of clinical trials for Neurovascular and CNS disorders, including stroke, secondary prevention drugs, multiple sclerosis and dementia including Alzheimer's disease (AD).

Theralys, founded in 2001 and based in Lyon, France, operates an imaging core lab providing centralized blinded read services and image analysis. Their proprietary and validated software for clinical trials includes applications which enable the automated quantitation of various imaging parameters such as brain, white matter lesion and hippocampal volumes, MRI diffusion and perfusion, among others. Such measurements are currently used by pharmaceutical and biotechnology companies in ongoing phase II-III-IV trials in neurodegenerative diseases for the evaluation of response to therapy and/or indicators of disease progression over time.

Mark Weinstein, president and CEO of Bio-Imaging, said, "This planned acquisition is consistent with our strategy to be the leader in medical imaging core lab services by expanding our therapeutic expertise in the CNS and Neurovascular area, introducing new image analysis solutions and strengthening our global presence. The addition of Chahin Pachai, PhD, Theralys' executive director, and the expertise of Theralys' professional team increases the depth and breadth of our management team and strengthens our clinical expertise."

Weinstein added that the addition of Theralys' Lyon, France-based office “further strengthens our European presence."