Precision Medicine Group Acquires Stern Investor Relations, Inc.
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."