PPD Inc. will strengthen its foothold in central and eastern Europe by acquiring contract research organization Abcro Inc.

The acquisition is slated to close near the end of the first quarter, pending regulatory approval.

Wilmington-based PPD, also known as Pharmaceutical Product Development Inc., is a clinical research organization. It says the acquisition will help efforts to enter markets in Romania, Bulgaria, Serbia and Croatia.

The deal also builds on PPD's existing staff and operations in Poland, Russia and Ukraine.

PPD has 10,500 employees in 33 offices worldwide, with 3,400 workers in North Carolina. It plans to establish a presence on the N.C. Research Campus in Kannapolis.

Bulgaria-based Abcro, founded in 2000, provides clinical-trial services to pharmaceutical and biotechnology companies. The company has more than 230 full-time employees.

Dana Leff, chief executive officer and co-founder of Abcro, will oversee PPD's Central and Eastern European operations. Christa Pleasants, chairman and co-founder of Abcro, will join PPD's clinical operations in the United Kingdom as a senior director.

Source: bizjournals.com