June 17, 2024

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Xlife Sciences AG Announces Strategic Merger Between palleos healthcare GmbH and OCT Clinical GmbH

Zurich, 27th of May 2024: Xlife Sciences AG announces the merger of its portfolio company, palleos healthcare GmbH, with OCT Clinical GmbH. This merger represents a significant milestone in establishing a leading company in the field of clinical research.

Palleos healthcare, a Germany-based contract research organization (CRO) focused on oncology, and OCT Clinical, a full-service CRO, have officially merged following the signing of the contract on May 24, 2024.

The merger combines the unique strengths and expertise of both companies, positioning them to offer comprehensive end-to-end services and solutions globally. palleos healthcare, with its primary activities in Western and Central Europe (Germany, Austria, and Switzerland), and OCT Clinical, which focuses on Eastern Europe (Poland, Hungary, Baltic States, Ukraine, and Bulgaria), will now jointly recruit patients in a region with a total population of over 300 million people. Henceforth, the combined company will operate under the brand name palleos healthcare.

Dr Philip Räth, Managing Director of palleos healthcare, comments on the merger: “I’m certain that the merger will not just double the expertise of both companies, but square it, thanks to synergistic effects. While OCT Clinical previously just concentrated on the Eastern European market and palleos healthcare on the Central one, together we now cover the entire region, from product development and pre-clinical consulting to regulatory affairs and clinical trials.”

Dmitry Sharov, CEO of OCT Clinical, adds: “OCT Clinical is proud to join forces with palleos healthcare, as it has an excellent reputation in the industry it serves. Now we can offer tailored solutions to our clients to meet their diverse clinical research needs and accelerate the time of bringing their products to market.”

Oliver R. Baumann, CEO of Xlife Sciences, expresses his enthusiasm: “We are excited about the merger of palleos healthcare and OCT Clinical to offer better CRO solutions for global markets. As a strategic partner and shareholder of palleos healthcare, Xlife Sciences sees great potential in this union to increase reach and expand service capacities. This merger promises to deliver top-notch solutions for clinical research and advance global healthcare.”

Notably, according to the U.S. Food and Drug Administration (FDA), out of the 55 novel drugs approved in 2023, 42 underwent clinical trials in Europe, including Germany, Georgia, Poland, Hungary, Bulgaria, Romania, Czech Republic, Serbia, Ukraine, and Latvia. Additionally, according to an FDA report, a total of seven Central and Eastern European countries were among the top ten in terms of the number of clinical trial participants, underscoring the strategic importance of this merger for pharmaceutical companies seeking efficient solutions for patient recruitment and successful study outcomes.

This strategic partnership underscores Xlife Sciences commitment to bridging the gap between innovative research and practical healthcare applications, ultimately improving the global landscape of clinical research.

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