CPR Pharma Services Pty Ltd, a spin-out from the University of South Australia, commenced trading in April 2009 after attracting funding of $2.5m from Terra Rossa Capital, ITEK Pty Ltd, and the South Australian Innovation and Investment Fund.

CPR was founded by UniSA in 1996 as the Centre for Pharmaceutical Research undertaking research activities as part of the School of Pharmacy and Medical Sciences.  As CPR’s activities expanded with an increasing focus on consulting services, a decision was made to spin-out the business to attract new investment and facilitate further growth.

Located at the BioSA Incubator, CPR employs 32 staff and offers specialised services supporting drug development for the biotechnology and pharmaceutical industries.

CPR is unique in Australia. Its services combine bioanalytical capability with clinical services including data management and the monitoring of studies. Its core clients are Australian biotechnology companies and global pharmaceutical companies attracted to the advantages of conducting drug development in Australia's rigorous yet accessible regulatory environment.

CEO Jason Valentine said the new investment provided CPR with capital for vital infrastructure and business expansion. “Raising this capital in the current global economic environment is a particular achievement and is testimony to the efforts of all involved,” he said.

ITEK expects the company to create 26 new positions over coming years, targeting fresh graduates from pharmaceutical science, pharmacology and forensic science backgrounds in South Australia. CPR has also purchased and commissioned two mass spectrometers, equipping the company to supply unmet needs in the bioscience sector.

Mr Valentine said one of these spectrometers was the only instrument of its kind available in the Asia Pacific region. “The new equipment gives CPR’s Bioanalytical Laboratory a clear competitive advantage in terms of capacity and technical capability,” he said. “My vision for the company is to become a significant CRO (Clinical Research Organisation) in the Asia Pacific region.”

For more information on CPR Pharma Services, visit www.cprservices.com.au

For more about ITEK, visit www.itek.com.au

ITEK is a commercialisation company wholly owned by the University of South Australia. Its strategy is to create long-term value through the licensing of Intellectual Property (IP) and the creation of spin-off companies from research conducted at the University.

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