Profil Institute Decides to Not Pursue Formal Joint Venture with Florida Hospital, But Will Continue to Work Collaboratively

Profil Institute Decides to Not Pursue Formal Joint Venture with Florida Hospital, But Will Continue to Work Collaboratively

Profil Institute Will Look to Establish an East Coast Clinical Facility in Near Future, But Location is Not Yet Determined

SAN DIEGO, July 3, 2013 – Profil Institute for Clinical Research, Inc., a center of excellence providing early phase diabetes, obesity and cardiometabolic clinical research and scientific support, announced today that they are no longer pursuing a formal joint venture with Florida Hospital, one of the nation’s largest academic, teaching and research hospital systems, that would have involved the opening of a satellite clinical facility in the Translational Research Institute (TRI) building on Florida Hospital’s campus.

Because Profil Institute has advanced technology and scientific expertise in diabetes and obesity clinical research and the TRI has similar attributes in metabolism and obesity research, a formal joint venture was originally envisioned.  However, as discussions evolved, it became evident that working collaboratively but independently was a more suitable and mutually beneficial option. Both parties remain committed to work together on clinical projects on a case by case basis.  

As part of the joint venture, Profil Institute was scheduled to open a satellite clinical facility in the TRI building in Orlando.  Because that step is no longer under consideration, Profil Institute will be evaluating other sites and opportunities for a facility on the East Coast.  Profil Institute’s headquarters will continue to remain in San Diego.

About Profil® Institute for Clinical Research, Inc.

Profil Institute is internationally renowned as a Center of Excellence for early phase clinical research of drugs and devices for diabetes, obesity and cardiometabolic diseases. The company’s scientific expertise, advanced metabolic clinical research methodologies, and automated glucose clamp technology enable Profil Institute to execute studies of far more complexity and have led Profil Institute to be the most highly regarded clinical research institute for early phase diabetes drug studies. Profil Institute has been involved with every clinically promising drug class in diabetes and in more than 200 clinical studies since the company’s inception in 2004. For more information visit www.profilinstitute.com.

For further information, please contact:

Abby Devine
Corporate Communications
abby.devine@profilinstitute.com
858-663-6148