Somru BioScience Inc., a Charlottetown-based contract research organization, has agreed to buy Novus Clinical Research Services Ltd. of Bangladesh to expand its international clinical research operations.

The P.E.I. company announced Wednesday that its affiliate, Somru BioScience (BD) Limited, has signed a definitive agreement to purchase all shares of Novus, a clinical research organization operating in Bangladesh. Financial terms of the transaction were not disclosed.

Somru said the acquisition will strengthen its clinical research network linking North America and South Asia and broaden the services it can offer pharmaceutical, biotechnology and vaccine developers.

“This milestone is about more than expanding our footprint,” said Somru Co-Founder and CEO Mohammed Moin in the statement. “It creates a meaningful connection between Canada and Bangladesh that will foster scientific collaboration, facilitate technology transfer, and attract new investment while enabling clients to access a broader range of research and laboratory capabilities through a single global platform.”

Somru provides bioanalytical testing, immunogenicity assessments, biomarker analysis and regulatory support services for drug development programs. Through the acquisition, Somru plans to combine those capabilities with Novus’s experience conducting clinical research in Bangladesh.

Chief Technology Officer Rafiq Islam said Bangladesh offers access to a diverse patient population that can support research in areas such as vaccines, infectious diseases, biosimilars and therapeutic development.

Founded on Prince Edward Island, Somru has expanded its operations to serve clients in North America, Europe and Asia. The company said the acquisition will allow sponsors to access a broader range of clinical, laboratory and scientific services through a single organization.

Novus has supported clinical research and pharmaceutical development projects in Bangladesh and brings local expertise and industry relationships to the combined company, said the announcement.

Somru said it plans to invest in quality systems, laboratory modernization, workforce development and technology transfer initiatives to expand Novus’s capabilities. The company also described the transaction as a foreign direct investment in Bangladesh’s healthcare and biotechnology sector.

Following regulatory approvals and completion of the transaction, Novus will operate as part of Somru’s global network, supporting clients in North America, Europe, Asia and other markets. Somru said it aims to develop the Bangladesh operation into a regional centre for clinical trials, bioequivalence studies, laboratory services, biomarker testing and biosimilar development.

Said Moin: “We expect this platform to attract additional international projects to our Canadian operations in Prince Edward Island while strengthening Bangladesh’s position within the global clinical research ecosystem.”