Paragon Biomedical Acquired By Clinipace

Irvine-based Paragon Biomedical, a contract research organization (CRO), has been acquired by Clinipace, the two announced today. Financial terms of the acquisition were not disclosed. The two companies said the acquisition will "significantly expand" Clinipace's expertise, site management capabilities, and clinical operations. The move doubles Clinipace's size to more than 430 employees. Both firms provide clinical research services to pharmaceutical, biotechnology, and medical device firms. Paragon Biomedical was founded and headed by Gena Reed, who joins Clinipace's board of directors. The companies said that Paragon was advised by Crosstree Capital Partners in the acquisition.