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20 September 2003
Q-One Biotech, one of Scotland's largest drug testing companies, is on the verge of being taken over by one of its closest rivals.
BioReliance, headquartered in Maryland USA, hopes to complete the acquisition of Glasgow-based Q-One Biotech by the end of September. The two firms announced that they had entered into exclusive takeover talks, following two months of preliminary discussions. The parties have already agreed on many of the major terms of the proposed transaction. The acquisition of Q-One would allow BioReliance to carry out virtually all of its services for European clients within Scotland. Q-One Biotech is a spin-out from the University of Glasgow.
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