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ClinTrials appoints ex-Upjohn exec Mitchell CEO, gains option to acquire his preclinical service business.

Executive Summary

CLINTRIALS HIRES EX-UPJOHN EXEC MITCHELL AS CEO, HAS OPTION TO ACQUIRE MPI RESEARCH, a drug safety and pharmaceutical development company founded by Jerry Mitchell, MD/PhD, and William Parfet in November 1995. ClinTrials will pay $1.5 mil. in cash to Mitchell and Parfet "for the option to purchase MPI at fair market value within the next 26 months," the contract research organization said.
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