Clinigen buys Quantum Pharma, another British CSO, for £150 million

Specialty pharma firm Clinigen Group (AIM: CLIN) and fellow London-listed contract research organization (CSO) Quantum Pharma (AIM: QP) have agreed the terms of a takeover deal.

Clinigen will pay £150 million ($190 million) for all issued and to-be-issued shares in Quantum, whose shares had risen almost 20% in morning trading.

In a statement, Clinigen said it expected the deal to boost its "unlicensed to licensed" capabilities and provide global reach for Quantum’s products and pipeline, especially in Australasia, Africa and Asia.