Contract Research Companies
Explora and more than 100 similar businesses, called contract research organizations, have sprung up in San Diego County in recent years to do the heavy lifting of drug development — running labs, formulating and manufacturing experimental treatments, and managing clinical trials for biotechnology companies.
As investment funding has slowed to a trickle in a tough economy, many biotechs slashed their internal research and development operations and became “virtual,” operating with only a handful of their own employees.Full SignOn San Diego Article
Economics Shifts Industry Business Model
Unable to raise capital, many biotechs and medical instrument makers were forced over the past 16 months to slash their budgets, lay off employees, and look for easier and less expensive ways to carry on the process of bringing drugs and devices to market. In some cases, that has meant outsourcing research, clinical trials, and other work to overseas labs. But many San Diego life sciences companies also are turning to local consulting firms, biomedical research laboratories, and a variety of specialized service providers. Collectively, they are known as CROs, or clinical research organizations—and in San Diego, at least, they are proliferating. (CROs are alternately known as contract research organizations).Full Xconomy Article
