PHARMACY MARKET, PHARMA TECH
GoodRx | October 21, 2022
To circumvent overpriced prescription drugs and grow its robust pharmacy services platform, GoodRx finalized its vitaCare acquisition. Based on a transaction that started in the first quarter of 2022, GoodRx agreed to secure vitaCare for $150 million in cash. Based on vitaCare’s financial performance through 2023, an additional $7 million consideration is also possible. A report cited by Globe Newswire showed that the global pharmacy market size has a forecasted value of $1,627.74 billion by 2030. Pharmaceutical platforms, with accessible clinical programs and digital adoptions, have a positive impact on today’s healthcare system, with vitaCare as one of the promising brands.
vitaCare, a healthcare service platform, offers cost-effective solutions to patients. More precisely, the platform helps individuals navigate insurance coverage and its optimized benefits to attain lower-priced medications. Rising investments in pharmacy services have sparked interest in vitaCare, including that of GoodRx.
The acquisition of vitaCare is in line with GoodRx’s mission, though. Co-CEO Doug Hirsch states that the company seeks to relieve the financial burden that comes with securing medication. Pharma manufacturers have constantly observed barriers to proper patient care, especially for affordable medicine and complicated reimbursement processes. With vitaCare at the helm, new tools are utilized to ensure more patients are linked to relevant savings programs and transparent pricing information. Hirsch hopes that the acquisition will facilitate a smoother brand prescription process overall. Profit-wise, GoodRx predicts the deal will contribute under 1% of its total revenue in 2022, though there is no substantial long-term discern.
This acquisition is the latest in GoodRx’s commitment to delivering consumer-focused healthcare services. The company has a history of connecting individuals to accessible, research-based health information. One of the most notable ones is its partnership with Wheel in 2021, which generated better outcomes for patient care.
Telemedicine software provider Wheel offers flexible clinical services to a broad patient base. Wheel’s platform equips clinics with the capability of synchronous and asynchronous consults. It utilizes network virtualization to create a seamless experience for healthcare providers and patients. Our post ‘Network Virtualization: The Future of Businesses and Networks’ previously discussed how virtualization empowers a software’s scalability — and this certainly manifests in Wheel’s platform. Providers can choose from a range of services that enhance patient care. One of the services is ePrescription medications, which remotely administers prescriptions.
Following the integration of GoodRx’s technology into Wheel’s platform, health providers and patients alike can meet reduced costs of care. As it stands, GoodRx’s coupon price API operates with over 200 billion pricing data points daily. Consumers use these to identify lower-priced medications. With the integration, Wheel-mobilized clinics can offer their patients a GoodRx coupon. GoodRx can also adapt its services to remote healthcare activities through the partnership. After all, GoodRx is essentially a marketplace.
Ultimately, GoodRx champions solutions that provide consumers with affordable healthcare access and medication. With vitaCare among its ranks today, the company can focus on promoting better patient adherence to treatment plans.
Bluestar Genomics | October 11, 2022
Bluestar Genomics, Inc., an early cancer detection company leading the development and commercialization of next-generation liquid biopsy tests focused on non-invasive detection of high-mortality cancers in high-risk patient populations, today announced it received accreditation for its clinical laboratory from the College of American Pathologists (CAP). The certification enables the company to serve physicians and patients globally as it works towards broad commercialization of its first test for the detection of pancreatic cancer.
CAP Accreditation is an internationally recognized program that awards laboratories that meet stringent requirements of quality, accuracy, and consistency. This milestone further solidifies Bluestar Genomics’ commitment to providing the highest standards of testing results. The company’s proprietary approach to detecting cancer early is anchored in epigenomic process of tracking dynamic changes in cells in the body by measuring levels of the biomarker 5-hydroxymethylcytosine (5hmC) in a person’s blood.
“This accreditation—on the heels of our CLIA certification and combined with our growing body of scientific evidence supporting the utility of our 5hmC-based epigenomic testing—positions us to become the first cancer detection company to offer non-invasive epigenomic blood-based testing for early pancreatic cancer detection. These milestones are a testament to our focus on preparing our company to serve customers around the world, helping millions of patients avoid late-stage, untreatable cancer diagnosis.”
David Mullarkey, chief executive officer of Bluestar Genomics
Bluestar Genomics’ pancreatic cancer early detection test has been analytically validated and previously received FDA Breakthrough Device Designation. It is designed to analyze a person’s changing biology and uses novel 5hmC-based epigenomic analysis to detect when cells become cancerous. The company has a prospective, large clinical validation study underway to further study its test.
About Bluestar Genomics
Bluestar Genomics is an early cancer detection company focused on the development and commercialization of non-invasive epigenomic tests to detect cancer through a standard blood draw, earlier than existing methods and when the disease is still treatable. The company uses its one-of-a-kind epigenomic platform that combines best-in-class bioinformatics and genomic technologies to analyze individuals’ changing biology that is yet to produce symptoms. Leveraging its novel liquid biopsy technology, Bluestar Genomics is initially focused on high-mortality cancers with the greatest need for early detection, starting with pancreatic and women’s cancers. With locations in San Diego and the San Francisco Bay Area, Bluestar Genomics collaborates with top research institutions and is supported by multiple global healthcare and technology investors and pharmaceutical collaborations.
Cambrex | November 22, 2022
Cambrex, a leading global contract development and manufacturing organization providing drug substance, drug product, and analytical services across the entire drug lifecycle, today announced that it has entered into a definitive agreement to acquire Snapdragon Chemistry, a leading US-based provider of chemical process development services to a broad range of emerging and established biopharma customers.
Snapdragon specializes in active pharmaceutical ingredient batch and continuous flow process development, utilizing state-of-the-art automation technology and proprietary equipment to solve complex process and analytical development challenges. The team of scientists and engineers apply deep process understanding afforded by data-rich experimentation to design and rapidly execute efficient GMP and non-GMP manufacturing processes. With R&D and manufacturing headquartered in Waltham, Massachusetts, Snapdragon's 74 employees come with strong ties to the local scientific community, with 31 PhD scientists on staff.
"The acquisition of Snapdragon will accelerate our growth in the area of continuous flow process development and manufacturing, complementing our recent organic investments in our High Point, North Carolina facility. With R&D and manufacturing capabilities in the heart of Boston's biopharma hub, Snapdragon will continue to focus on solving their customers' most difficult process development challenges."
Tom Loewald, CEO of Cambrex
"We are excited to be joining Cambrex, a company with over 40 years of drug substance development and manufacturing expertise," said Matt Bio, CEO of Snapdragon. "Partnering our best-in-class process development capabilities with Cambrex's larger scale manufacturing facilities in North America and Europe is a natural fit, both for our employees and our customers."
Snapdragon recently opened its second facility, a new 51,000-square-foot facility to manufacture experimental pharmaceutical products for human clinical trials. The new facility expanded the company's capacity for supplying clinical intermediates and drug substances.
The transaction is expected to close following the completion of customary regulatory approvals. This will be Cambrex's second acquisition within a year along with Q1 Scientific, consistent with its strategy to expand its portfolio of specialized solutions for pharmaceutical development and manufacturing.
Cambrex is a leading global contract development and manufacturing organization that provides drug substance, drug product, and analytical services across the entire drug lifecycle. With over 40 years of experience and a growing team of over 2,300 experts servicing global clients from North America and Europe, Cambrex is a trusted partner in branded and generic markets for API and finished dosage form development and manufacturing.
Cambrex offers a range of specialized drug substance technologies and capabilities, including biocatalysis, continuous flow, controlled substances, solid-state science, material characterization, and highly potent APIs. In addition, Cambrex can support conventional dosage forms, including oral solids, semi-solids, and liquids, and has the expertise to manufacture specialty dosage forms such as modified-release, fixed-dose combination, pediatric, bi-layer tablets, stick packs, topicals, controlled substances, sterile, and non-sterile ointments.
Lifespin | September 16, 2022
Lifespin GmbH, based in Regensburg with offices in Boston, Massachusetts, announced that it has launched a new commercial service that, for the first time, will provide the pharmaceutical and biobanking industry with access to Lifespin’s proprietary metabolic database, along with its advanced interpretive software to assist in various phases of drug research, development, and manufacturing.
Immediate applications of Lifespin’s commercial services will include quality control for synthetic/natural compounds, quantitative profiling of metabolites in liquid samples, monitoring of drug responses and organ-specific metabolic phenotyping, and precision nutrition to therapeutic drug monitoring and longitudinal treatment monitoring.
“Making our technology platform accessible to the pharma and biobanking industry will provide the field with deeper clinical insights and improve stratification of patient data in clinical trials, enabling pharmaceutical companies and others in the field to perform a range of precision phenotyping of cell or animal models and patient cohorts. Our goal is to provide the pharma and biobank scientists with yet another powerful resource in their development toolbox, including our advanced algorithms and database, to enhance their earlier phase analysis and to help better identify the strengths and weaknesses of compounds in study during research through clinical trials.”
Dr. Ali Tinazli, CEO of Lifespin GmbH
Lifespin, a deep data company that maps human health based on snapshots of metabolic states, has built one of the largest and most comprehensive databases of metabolic health profiles across healthy and diseased individuals covering multiple age and gender groups as well as specific diseases in neurology, oncology, and inflammation. Utilizing proprietary technology, Lifespin is performing quantitative in-house measurements of metabolomes, digitizing metabolic profiles that include billions of metabolic relationships. These digital metabolic profiles allow systematic mapping across various health conditions and may enable differential diagnosis and early detection of health conditions, staging of diseases, monitoring of treatment success and personalized medicine. Lifespin’s advisory board consists of key opinion leaders such as James Rothman (Nobel Laureate in Physiology/Medicine, Sterling Professor of Cell Biology, Yale University, New Haven, CT USA) and other prominent leaders in the relevant fields of study.