PHARMACY MARKET, PHARMA TECH
Capsida Biotherapeutics | February 27, 2023
Capsida Biotherapeutics Inc., a fully integrated next-generation gene therapy platform company, and AbbVie, a pharmaceutical company dedicated to discovering and providing innovative medicines to address serious health issues, have recently announced an expanded strategic collaboration.
The collaboration aims to develop genetic medicines for eye diseases with high unmet needs. Capsida's novel adeno-associated virus (AAV) engineering platform and manufacturing capability will be combined with AbbVie's extensive capabilities to identify and advance three programs. This expanded collaboration builds on the neurodegenerative disease partnership established in 2021.
As per the agreement's terms, Capsida will receive $70 million, comprising upfront payments and possible equity investment. Capsida could receive up to $595 million in option fees and research and development milestones for the three programs, with the potential for further commercial milestones. Additionally, Capsida will be eligible to receive mid-to-high single-digit royalty payments on future product sales.
Capsida will be responsible for leading capsid discovery efforts for all programs, utilizing its high throughput AAV engineering platform, and will also be responsible for process development and early clinical manufacturing. AbbVie, on the other hand, will lead innovative therapeutic cargo approaches and be responsible for commercialization and development.
Capsida's CEO Peter Anastasiou commented, "AbbVie has been an excellent partner, and we are excited to expand our collaboration into ophthalmology with the world leader in this therapeutic area." He added, "Combining AbbVie's expertise in eye disease drug development and commercialization with Capsida's fully integrated next-generation AAV engineering platform and manufacturing capabilities offers the potential to provide novel therapies enabling unprecedented benefit to patients with serious eye diseases."
(Source- PR Newswire)
About Capsida Biotherapeutics
Capsida Biotherapeutics Inc. is a leading gene therapy platform company that develops targeted, non-invasive gene therapies for patients suffering from severe and life-threatening genetic disorders. Its innovative approach allows for the treatment of rare and common diseases across all age groups. The company focuses on creating customized therapies that selectively target specific organ systems while minimizing exposure to non-targeted organs. Capsida is a fully integrated biotechnology company with proprietary adeno-associated virus (AAV) engineering, translational biology, advanced manufacturing capabilities, multi-modality cargo development and optimization, process development, as well as extensive clinical development expertise.
BUSINESS INSIGHTS, PHARMA TECH
ClinChoice | March 03, 2023
ClinChoice, a leading global clinical CRO, recently announced that it has acquired CROMSOURCE S.r.l., an ISO-certified full-service contract research organization. CROMSOURCE has its corporate headquarters in Verona, Italy, its US headquarters in Cary, NC, and subsidiaries in the US and seven countries throughout eastern and western Europe.
With a proven track record of providing excellent clinical research and staffing services to multinational pharmaceutical, biotechnology, and medical device clients, CROMSOURCE's acquisition will strengthen ClinChoice's global network and further enhance its full-service capabilities.
ClinChoice is known for its commitment to providing high-quality services and timely delivery, resulting in the successful completion of clinical trials and functions, including regulatory, biometrics, safety, medical, and clinical operations across various sectors such as drug, medical devices, vaccines, cosmetics, and consumer health using both project-based and FSP models.
The company offers services covering the development lifecycle for biotechnology, pharmaceutical, consumer products and medical device companies worldwide. With a broad clientele ranging from the largest multinationals to startup and emerging companies, ClinChoice has completed over 1,500 clinical studies in various therapeutic areas such as CNS, oncology, ophthalmology, rare disease, respiratory and metabolic.
CROMSOURCE's acquisition was advised by Fairmount Partners, while Crosstree Capital represented ClinChoice.
ClinChoice is a leading global clinical CRO that provides comprehensive services to biotechnology, pharmaceutical, medical device, and consumer products clients worldwide. With a successful 25-year track record, it is considered the standard for excellence in clinical operations, biostatistics, data management, CDISC, statistical programming, regulatory affairs, medical affairs, and pharmacovigilance. The company has established major delivery centers in Europe, the US, Canada, China, India, Japan, and the Philippines, employing over 3,000 people worldwide. ClinChoice has a strong and talented team and is expanding its clinical operations in seven countries across North America, Asia, and Europe.
BUSINESS INSIGHTS, PHARMACY MARKET
Framework Solutions, LLC | March 02, 2023
On March 1, 2023, Framework Solutions, a leading clinical to commercial solutions provider, announced that it has acquired ONIX Life Sciences, a consultancy focused on regulatory operations services for the life sciences industry. The acquisition will enable both firms to expand their global reach and strengthen their service capabilities by providing clients with a broader range of critical services. ONIX's expertise in eCTD Submissions, Publishing, and eCTD Lifecycle Management has helped clients submit their regulatory documents to health authorities worldwide, including the FDA and EMA.
ONIX, based in the United Kingdom, has successfully completed eCTD submissions for over 100 clients globally across North America, Europe, South America, the Middle East, and Asia Pacific regions. In addition, ONIX is proud of its accomplishment of never having an eCTD technical rejection and never missing a deadline since its inception in 2010.
Frameworks, headquartered in Connecticut, received a growth investment from WestView Capital Partners in 2021 to develop end-to-end solutions for clinical and commercial-stage organizations in the life sciences industry. WestView Capital Partners, a Boston-based growth equity firm, focuses on investing in middle-market companies with a longstanding dedication to the life sciences services industry.
The transaction terms between Framework Solutions and ONIX Life Sciences were not disclosed.
Frameworks CEO Joe Walsh commented, "We are thrilled to welcome Jasbir and the ONIX team to Frameworks." He further emphasized, "ONIX has built an impeccable reputation in the industry and we are excited to bring Regulatory Operations services to our customers. We look forward to working with Jas as we continue to expand our suite of service offerings to best serve the clinical to commercial-stage needs of life sciences clients."
(Source – PR Newswire)
About Framework Solutions, LLC
Framework Solutions is a leading clinical to commercial solutions provider to pharmaceutical and biotechnology companies with the aim of promoting customer success. The company provides both strategic and tactical solutions in various fields, including Regulatory Affairs, Medical Affairs, MLR, and Commercialization. These services are reinforced by the Technology Group, which delivers tech-enabled solutions and integrated enterprise help desk and infrastructure support. Over 100 clients, from emerging biotech to large pharma, have utilized its services. Its operation centers are located in Europe, North America, and Asia, allowing us to provide these services globally.