LONDON (ShareCast) - Clinical research company Venn Life Sciences on Thursday said it expanded its operations with a new Russian business.

The group has established Venn Russia, a joint venture with a local contract research organisation (CRO).

The new arm will operate from offices in Moscow and will complement existing European services. It is part of the company’s strategy to extend its geographic reach.

"This move further solidifies Venn's vision to become the leading mid-sized CRO in Europe,” Chief Executive Officer Tony Richardson said.

“Through moving into developing markets such as Russia, with experienced teams, we are able to offer our clients better choice and access to more patient populations."

Venn provides clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients.

Shares rose 5.08% to 31.00p at 11.25 Thursday.

RD

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