adMare BioInnovations Spins Out Analytical Services to Paraza Pharma, Catalyzing Growth and Innovation
November 28 2024
Montreal (QC) – November 28, 2024 – adMare BioInnovations is pleased to announce the spin-out of its Analytical Services Department to Paraza Pharma Inc., a leading contract research organization (CRO) renowned for its expertise and commitment to advancing life science innovation. This move secures ongoing, high-quality analytical support for adMare’s Innovation Centre resident companies and strengthens the services available to Canada’s life sciences sector under Paraza’s expanded capabilities.
The Analytical Services, established initially to support adMare’s resident companies, quickly gained a reputation for excellence, developing a unique skill set that has become an asset to the broader life sciences ecosystem in Canada.
“Paraza Pharma is the right partner to build upon the strong foundation established by adMare’s team,” said Arshad Siddiqui, President & CEO of Paraza Pharma. “We are excited to further enhance and expand our capabilities, ensuring that Canada’s life sciences community continues to benefit from exceptional support and cutting-edge expertise.”
This acquisition will significantly strengthen Paraza Pharma’s service portfolio, adding advanced analytical services designed to meet the growing needs of the biotech and pharmaceutical sectors. These services include comprehensive quality control, product characterization, stability studies, and method development for a wide range of drug modalities. Paraza’s seamless, end-to-end solutions are supported by a deep understanding of drug discovery processes, enabling faster and more efficient transitions from preclinical to clinical development.
“adMare is confident in Paraza’s ability to further develop the capabilities of our former Analytical Services Team,” said Matthew Carlyle, COO and CFO of adMare BioInnovations. “Paraza shares our dedication to supporting life sciences in Canada, making them the ideal partner to take this next step.”
Under Paraza’s leadership, the Analytical Services Team will continue to deliver top-quality support to adMare’s resident companies and the broader life sciences sector, ensuring that innovation and growth remain central to the services offered.
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For More Information
Media Contact
Mounia Azzi
Vice President, Corporate Development,
adMare BioInnovations
mazzi@admarebio.com
Contact Paraza:
Sultan Ahmad
Chief Business Officer
Paraza Pharma Inc.
Sultan.ahmad@parazapharma.com
About adMare BioInnovations
With a strong track record of globally-competitive scientific discovery, Canadian life sciences are primed to lead the world. To make this a reality, adMare BioInnovations uses its scientific and commercial expertise, specialized R&D infrastructure, and seed capital to build strong life sciences companies, develop robust ecosystems, and foster industry-ready talent. It re-invests its returns into the Canadian industry to ensure its long-term sustainability. adMare has helped build 38 companies, of which 27 are still active. These companies have attracted $2.4 billion of risk capital, have a combined value of $5.7 billion, and have created around 1,000 jobs in Canada. Our dynamic Montreal and Vancouver Innovation Centres have been home to 50 life science companies to date, with the 29 current resident companies employing over 370 life sciences professionals. The adMare Academy has trained more than 800 alumni — 91% of whom are employed in the life sciences industry. For more information, please visit www.admarebio.com.
About Paraza Pharma
Paraza Pharma Inc. is a leading contract research organization (CRO) specializing in end-to-end drug discovery and development services. Dedicated to supporting biotech and pharmaceutical companies, startups, academic institutions, and venture capital firms, Paraza Pharma combines cutting-edge research capabilities with deep scientific expertise in Chemistry, Biology, and DMPK functions to deliver customized solutions that advance projects from concept to clinic. With a client-centric, seamless approach, Paraza Pharma provides innovative, high-quality services that position clients to accelerate the development of transformative therapies. For more information, please visit www.parazapharma.com.
