FARGO – A clinical drug research company headed by the founder of PRACS Institute is moving into the former PRACS building in south Fargo.
Altasciences announced Wednesday the opening of Algorithme Pharma USA in Fargo.
Headed by James Carlson, Algorithme Pharma USA will conduct bioequivalence and bioavailability studies in participants as was previously done by Carlson’s PRACS Institute.
“We’re going to be contracted by drug companies that don’t exist in North Dakota, so that is brand new money coming into the state,” Carlson said.
Carlson started with the company Oct. 22, said John Wickenheiser, associate director of recruiting and screening.
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The new site at 4837 Amber Valley Parkway will officially open Monday, with its first two studies slated for Jan. 17-18.
Only the clinical trial portion will be done in Fargo, with the bioanalytical services, statistics, report writing and overview done at Algorithme’s Montreal headquarters, according to a news release. Algorithme Pharma is a subsidiary of Altasciences and has more than 20 years of experience.
Algorithme Pharma also has a location in Kansas City, which researches special populations, Carlson said. The Fargo location will be their first U.S. venture researching typical healthy subjects.
Wickenheiser said he estimates the company will have 40 to 50 employees by the middle of next year. Most of its employees now are former PRACS employees, he said, noting their experience and connection to Carlson.
Carlson founded PRACS Institute in 1983, and sold it in 2006. It merged with two other firms to form Cetero Research, which operated out of seven locations, including Fargo.
After filing bankruptcy in 2012, Cetero was sold to an investor group and Carlson was brought back as CEO, resurrecting PRACS Institute.
PRACS closed suddenly in March 2013. It had more than 300 employees, according to a previous Forum story.
Carlson said he sees “very significant” opportunities for growth with Algorithme, in part due to his 40 years in the industry.
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“Over the years, I’ve created a lot of friends and loyal clients within the drug industry, and they’ve been very anxious to come back and work with me again,” he said.
Carlson said PRACS’ sudden closing in 2013 was due solely to investors, and that his new investors have years of experience in the health industry.
With the addition of Algorithme, Fargo-Moorhead is now home to several clinical testing companies.
Novum Pharmaceutical Research Services operates out of another former PRACS building at 4801 Amber Valley Parkway
Axis Clinicals opened its doors in May at the former Wal-Mart building in Dilworth.
Lillestol Research at 1711 Gold Drive in Fargo has conducted clinical research studies for about 10 years – though Carlson does not consider Lillestol competition because its studies are for patients who already have diseases.
All together, the existing clinics for healthy subjects do not have the 600 research beds that the original PRACS had, Carlson said.
“So is there growth room? Is there space for all three of us? Absolutely.”
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For more information:
People interested in taking part in clinical drug trials through Algorithme Pharma USA can call (701) 356-4000 or visit fargostudies.com.
Grace Lyden contributed to this report.
