Cello Health Acquires Innovative Science Solutions to Expand U.S. Market Presence

2019Year8Month20Day, VCBeat (WeChat ID:vcbeat) learned that the health consulting firmCello HealthAnnounced the acquisition of the headquarters located inUnited Statesof Morristown, New JerseyScientific Consulting FirmInnovative Science Solutions（AbbreviationISS），Further ExpansionU.S. Market.

The initial consideration for this acquisition is $6.4 million, payable in cash and funded by Cello Health from existing cash resources and debt financing. Surplus working capital will be paid to ISS in an equivalent amount of cash (in USD). In addition, deferred consideration of up to $4.1 million will be payable in four installments, each contingent upon financial performance during the period from August 1, 2019, to July 31, 2024. Eighty percent (80%) of such deferred consideration shall be paid in cash, with the remainder settled through the issuance of new ordinary shares of Cello Health.

ISS is a scientific consulting firm founded in 2000 by Dr. Steven Weisman and Dr. David Schwartz. The company specializes in providing strategic regulatory support to the healthcare industry and offering scientific expertise on health-related matters to legal counsel.

ISS provides technical services that include consulting throughout all stages of the regulatory process, supporting FDA advisory committee meetings, and supplying data for legal defense in patent and intellectual property matters. ISS’s clients are primarily from the U.S. market, but the company also serves clients in other countries.

Stephen Highley, Chairman of Cello Health, stated, “We are delighted to welcome ISS into the Cello Health family. ISS enjoys a strong reputation for delivering scientific consulting services, and its high-quality technical offerings complement Cello Health’s services, which support clients in drug development and successful commercialization.”

“As we continue to expand in the U.S. market, acquiring ISS is a strong strategic choice,” added Julia Ralston, CEO of Cello Health US. “Our current service offerings are complementary to ISS’s technical services. With ISS on board, we will be better positioned to serve our clients, helping them navigate the scientific, commercial, and regulatory challenges they face in maximizing the market potential of their assets.”

Cello Health is a healthcare consultancy with experts in science, insights, strategy, and communications. By integrating expertise across these disciplines, Cello Health provides clients with specialized services to help them navigate challenges: commercial insights and analytics, strategic and scientific advisory, and scientific and creative communications. Cello Health develops bold solutions and delivers insightful recommendations to support clients in drug development and commercialization, thereby making a significant impact on people’s lives.

(Compiled by Tian Shuhang)