8:48 a.m., Aug. 19, 2010----Innovation, entrepreneurship -- and success. For decades, the Delaware Technology Park has helped start-up businesses get their footing.
QPS, a contract research organization to the pharmaceutical and biotechnology industry founded at DTP in 1995, recently acquired Xendo Drug Development, a contract research organization (CRO) based in the Netherlands, giving QPS a European headquarters and furthering its international presence.
Beginning as a single-site CRO focusing on bioanalysis services, QPS has grown over the last 15 years to become a privately held global company; however, its home base and U.S. headquarters are still in Newark, Del.
QPS boasts more than 200 employees in the U.S., with 30 University of Delaware alumni accounting for slightly more than 20 percent of its Delaware-based workforce, including the chief financial officer, Ben Hsu, who received his master's and doctorate from UD in chemical engineering.
“QPS is one of the great success stories of the Delaware Technology Park,” said Mike Bowman, chairman and president of DTP. “Having a strong base in Delaware with the support of DTP, UD and the state's resources, QPS has grown, obtaining more space in the park, and has become an international entity.”
“This merger will further strengthen our ability to provide our clients with quality, services and competitive pricing worldwide,” explained Ben Chien, president, CEO and founder of QPS Holdings, LLC.
“We like to think of Delaware as a cradle for innovation, and the QPS story is one reason why. QPS illustrates perfectly how a business that begins in a local incubator can achieve global reach with a supportive community and climate," said Gov. Jack Markell. "We look forward to its continuing impact on our local economy with high-tech jobs and its continuing affect on the world with its research."
“Together with our partners, Delaware continues to support the growth of entrepreneurial activity in the state,” said Alan Levin, secretary of the Delaware Economic Development Office. “We are proud to celebrate the achievements of QPS, Dr. Ben Chien and his team.”
Bob Dayton, president of the Delaware BioScience Association, notes that QPS played a large role with founding of the organization and hopes “other life sciences businesses in Delaware will grow and become as successful as QPS.”
Article by Meredith Chapman
Photos by Doug Baker