Ann: Strategic alliance and investment in CPR Pharma Services, page-2

Acquisition of 10% of CPR March 2018 to provide further commercialisation of Promarker technology

The partnership agreement will see PIQ provide its predictive diagnostics and analytical services capability to complement CPR's position as a regional leader in provision of clinical services and laboratory testing in clinical trials.

The global clinical trials market is projected to reach $22 billion by 2021.

CPR is a privately owned, highly regarded full service Contract Research Organisation (CRO) specialising in provision of clinical services and laboratory testing in early phase clinical trials.
CPR is based in Adelaide and has been providing its services for over 10 years.
Key features include:
Turnover of $15m in FY17
Full service early phase specialist CRO
Strong competitive position in the S-E Asia region serving a range of biotech and small-midsized pharma
Large number of clients in the USA and Asia
Close relationship with Phase I clinical trial sites across Australia
FDA and EMA inspected and laboratories have GLP and ISO 17025 accreditation
CPR has over 80 highly skilled technical and operational staff across clinical, data management and laboratory services

Acquisition requires issue of 10% of fully diluted shares to CPR (4m shares) based on 30day VWAP with 12 month escrow period.

Completion due 5th March, subject to CPR shareholder approval.
Future potential for PIQ to undertake a share swap for 4m PIQ shares for another 10% of CPR.