BETHESDA, Md., Dec. 17, 2018 /PRNewswire/ -- Precision Medicine Group, Inc. (Precision) today announced it has acquired Stern Investor Relations, Inc. (Stern IR), a leading investor relations firm for entrepreneurial biotechnology and healthcare companies. With this acquisition, Precision significantly expands its capabilities to include a complete range of strategic communication services aimed at facilitating capital formation and enhancing client visibility and productive interactions with the financial community. Stern IR supports more than 70 companies in the entrepreneurial biotechnology and healthcare sectors, and its core competencies include creation of investor relations strategy aimed at lowering the cost of capital, positioning and messaging development, relationship building with the financial community, and seamless tactical execution.
"We are excited to announce our acquisition of Stern IR, which fortifies and expands a core Precision service area: providing comprehensive communications and commercialization services to address the needs of our global life sciences clients," said Mark Clein, Chief Executive Officer of Precision Medicine Group. "This acquisition augments our broad suite of product offerings, enabling our clients to more effectively interact with all of the many stakeholders—including patients, physicians, payers, regulators, and now investors—involved in successfully bringing a new therapy from concept to market."
The leadership team at Stern IR will remain in place and the company will operate as usual. The growth and geographic reach of Stern IR's offerings are accelerated by this move, allowing Stern IR to partner with other entities under the Precision umbrella to support its clients more comprehensively, at every stage of their life cycle.
"This merger represents an important step forward for Stern IR, as we strive to be the premier thought-partner to our global client base, providing sophisticated investor relations counsel that reflects the ever-changing landscapes in drug discovery and development, regulatory review, and commercial preparations and launch," said Lilian Stern, founder and principal of Stern IR. "With its existing network of specialists focused on translating complex science and articulating the medical and economic value of new medicines, Precision is the ideal partner to accelerate our growth and advance our capabilities. Together, we will jointly pursue our vision of providing the best service to biotechnology and healthcare companies, and facilitating their development of novel medicines to improve the care of people worldwide."
Since its founding 20 years ago, Stern IR has established itself as the partner of choice of private and public biotechnology and healthcare companies seeking to achieve valuations reflecting their enterprise, technology, and assets. Stern IR provides tailored counsel to companies of all market capitalizations and stages of development, across therapeutic areas and geographies, in order to enhance visibility and communications, and to enable favorable and productive interactions with the investment community and other key audiences.
PALAZZO served as the exclusive financial advisor to Stern IR.
About Stern IR
Stern IR is a premier investor relations firm that supports entrepreneurial healthcare and biotechnology companies. Since its inception in 1998, Stern IR has worked with more than 400 biotechnology, specialty pharmaceutical, device, and healthcare services companies in all stages of development and across all therapeutic areas. Stern IR is based in New York City. For more information, please visit www.sternir.com.
About Precision Medicine Group
Formed in 2012, Precision Medicine Group is a specialized services company supporting next-generation approaches to drug development and commercialization. Precision provides an integrated infrastructure that supports pharmaceutical and life sciences companies as they develop new products in the age of precision medicine. With more than 1,700 employees in 32 locations, the company is headquartered in Bethesda, Maryland and has offices throughout North America and Europe. For more information, visit precisionmedicinegrp.com.
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SOURCE Precision Medicine Group