Thermo Fisher Scientific Inc., one of the world’s top life science company opens it U.S. Precision Medicine Science Center (PMSC) in Cambridge, Mass.
This facility beholds technologies that addresses collaborators need of analytical workflows which can generate precise molecular profiles of patients. This data will ultimately complement collaborators quest to treat disease effectively in clinical set-ups.
The centre also houses best in class experts who can help current and potential clients expedite journey from biomarker discovery to assay development. Company intends to achieve this by compressing R&D timelines.
“For health and science innovators, a bottleneck exists today between the discovery of biomarkers and their widespread use at the point of care,” said Emily Chen, senior director, Thermo Fisher Precision Medicine Science Center. “Our goal at the PMSC is to remove that bottleneck and help scientists and physicians reduce the time it takes to demonstrate clinic validity and utility.”
“Precision medicine needs to be based on high-quality data, and proteomics is central to that,” said PMSC collaborator Jennifer Van Eyk, PhD, Cedars-Sinai Medical Center in Los Angeles. “Our work with the team at the PMSC is helping us accelerate the important journey from discovery to patient care.”
This is not first time that company has opened PMSC centre, Thermofisher in past has opened similar centre in China that looks to address same challenges.
This 20 billion dollar sales company has unique blend of services that range from life science research to patient diagnostics, stretching far beyond to laboratory offerings. It is this combination that has positioned the company to forefront of innovation, which is well reflected in its global strategic decisions. For more updates on Thermo fisher and its peers, follow Pharmed Intel.
LabCorp acquires Sciformix Corporation, a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions for biopharmaceutical and medical devices clients. Sciformix will become part of Covance, LabCorp’s drug development business.
Quotes from Company
“This acquisition strengthens our position in the later phases of drug and device development, particularly for post-marketing pharmacovigilance and market access solutions,” said David P. King, chairman and chief executive officer of LabCorp. “The addition of Sciformix’s scientific and technology expertise, combined with its quality-driven processes, will support Covance’s work in transforming drug development through innovation and greater efficiency.”
Asia based Sciformix’s offerings include post-marketing safety and risk management, clinical development support services, regulatory affairs and operations, technology services, and real-world evidence solutions.
Quotes from Company
“The development process does not end once a drug or device is approved,” said Bill Hanlon, Ph.D., group president of Clinical Development and Commercialization Services at Covance. “More than ever, approved treatments must be monitored closely to demonstrate a continued favorable benefit-risk ratio in a much broader population and to safeguard patient safety. Pharmacovigilance solutions address that need. Sciformix’s services and expertise are a compelling addition to Covance’s portfolio. With its scientific knowledge and high-quality delivery, Sciformix is a great fit with our culture and our mission to improve health and improve lives.”
Manish Soman, former president and chief executive officer of Sciformix, said: “Our complementary offerings add depth and breadth to each company’s capabilities, creating an exciting opportunity to offer customers an enhanced range of comprehensive services by a single company.” Ajit Nagral, Sciformix founder and former executive chairman, added: “Sciformix is delighted to become part of the Covance and LabCorp family, bringing new opportunities for our employees as they work to improve healthcare for patients worldwide.”
Terms of the transaction have not been disclosed.
We are all aware of Labcorp’s acquisition appetite, and hence not very surprised by this acquisition. However noteworthy point here is the way Labcorp positions it is acquisition in its long term strategy and view. USD 10 billion dollar company still has enough in its pocket to make more acquisitions of similar sort to continue its in-organic growth. Watch out for this space for more updates on Labcorp and its peers in coming days.
Image and Data Source: Company Website
Pharmaceutical Product Development, LLC (PPD), a leading global contract research organization (CRO), and NeoGenomics Laboratories, Inc., a leading provider of cancer-focused genetic testing services, have entered into an agreement to provide afully integrated global pathology and molecular testing solution to PPD’s current client base.
As part of the deal, NeoGenomics will provide a range of lab testing services to support PPD® Laboratories’ oncology clinical trial activities globally.
Collaboration’s key focus is centralized pathology review, as well as specialty lab services, including flow cytometry, fluorescence in situ hybridization (FISH),and others.
Duo will also provide its clientele, a comprehensive companion diagnostics offering from biomarker discovery through regulatory approval and commercialization. Talk about the best bundled services in oncology space and this duo surfaces as best in class option.
Below are some of the quotes from company officials:
“NeoGenomics has world-class scientific talent, significant oncology trial experience, and a broad geographic presence that will allow us to further enhance our global laboratory services for oncology trials,” said Christopher Fikry, M.D., executive vice president of PPD Laboratories. “Working with NeoGenomics will enable us to jointly provide a premier global oncology and specialty laboratory solution for our customers.”
“We are pleased to be joining PPD in this important strategic alliance and look forward to collaborating with the many scientific professionals on their team,” said Douglas VanOort, chairman and chief executive officer of NeoGenomics. “Our company is committed to saving lives by improving patient care through communication, accuracy, reliability and efficiency. That commitment aligns closely with PPD’s mission and purpose to help its customers deliver life-changing therapies that improve health.”
So what is in for buyers:
Oncology is most watched therapeutic segment by leading pharma companies, with quicker need of solution multiple vendor involvement could be tedious task. This deal addresses that issue by bringing in multiple solutions under one roof. Strategic alliance and long term partnership would be key here.
Novartis could be tagged as one of those companies that look to do things differently. It taps into new platforms and technologies to pave way for new practices , and one such example of company’s move is its alliance with Thread research.
Team of both companies have developed an app namely “Focalview”, which aims at collecting real time data from 150,000 users.
The data also referred to as eDROS ( electronic device recorded outcome measurements), would help ophthalmic researchers gain more real time insights from patients who are positioned away from trial sites.
This is not first time that Novartis is exploring waters of remote patient clinical trials , it had earlier inked deal with Science 37 on similar lines.
These series of strategic activities from Novartis just go about highlighting company’s chase of paving new ways in clinical trial arena. And, we would be not be surprised if Novartis masters this pilot engagement and puts this practice for global operations.
Strengths: Being forerunner in all novel practices , having diversified portfolio of business, just puts Novartis at position of strength in comparison to its peers. Thread research on other hand is placed in business that is yet to explore its potential. Needless to say clinical trials away from site or remote patient monitoring is the future that healthcare industry beholds.
Opportunities that this engagement would bring in for Novartis are enormous. While the application is currently been tagged to Ophthalmic therapy, going forward scope of therapeutic coverage can definitely hold huge bargain for both the parties involved.
According to recent report from GVR, CRO SERVICES market is likely to touch USD 45.2 billion in year 2022. The market is dominated by handful of vendors namely IQVIA, Labcorp, ICON, Parexel and PPD. IQVIA leads this trail by accounting for 12.4 percentage of market share.
According to recent article from Outsourcingpharma which discusses CRO market nuances, and markets consolidation over the course of time, it would not be surprising to witness these players consolidate further. Given the fact that top 7-10 players in this industry accounts for close to 60% of market share.
Some of the other specifics that report from GVR highlights is
The important essence of the report is its estimate of growth rate for CRO services. It is analyzed to be 12% , which is higher than yesteryear’s 10% . Now the question to be asked is,
Good thing is CRO is embracing the wave of time, innovation and regulatory- which is very much visible by new models that likes of IQVIA, Labcorp and others are offering.
Wuxi Apptec doubles its operational space in the view of increasing demand.
Company has witnessed increased traction on bio-analytical testing over last 2-3 years, which has been major factor contributing to the expansion move. The expansion at NJ not just doubles Wuxi’s work space but also brings in job opportunities to 200 potential candidates.
SO analysis : Strength Opportunity Analysis
Strengths : Company offers bundled services like no other. Its platform complements small molecule, biopharma, cell and gene therapy and others at both R&D and manufacturing level. Stats like 16 out of 22 US FDA approved drugs are from Wuxi’s collaborators is huge testimonial to company’s capabilities.
Opportunities: To offer services to clients from distant location could be dealt with ease in era of connected and digital world. However proximity of vendors to focus markets does have its own advantage. Wuxi Apptec has been doing the same by expanding its developed market presence. This is likely to increase the project in-flow for the company. Further these service lines require constant dialogues amid parties involved and proximity would just fit in long term alliance action plan.
Deal is considered one of the major milestone for CRO fraternity as it involves analytical platform that links data from multiple sensors and wearables, analyse collected data & provide real time insights to end users.
Icon’s appetite for embracing innovation has always been on high note, this is very much acknowledged by numerous proof of concept studies that company has carried out in recent past.
This one though seems like match made in heaven – where best in class unite together to address issues pertaining to clinical trial management.
AI & machine learning are no longer fancy words having vivid description and application, it is now a hard-core reality touching new heights in every sector you can think off. Healthcare though has been late embracer of this innovation, it is trying to run really fast to make up for the lag.
Company Gryt recently inked a deal with BMS , where the latter would use former’s mobile app in order to enhance clinical trial design and patient well being.
BMS believes that using this app would give them access to voice of patients, an aspect which is of utmost importance in clinical trials.
It also believes having access to this patient data would help them make informed decisions on trials and redesign protocols wherever necessary.
Gryt’s unique selling point is its real time data and insights that it is able to tap via its remarkable app. Also, since company has nurtured its relationship with participants over a course of time it can revisit each of them for any follow ups.
App has quarter a million download and is available on both Android and app store.
We long to see more such deals where real time and accurate site data could be leveraged by pharmaceutical behemoths to make decisions that drive better healthcare outcomes.
Science 37, which recently was in buzz for its deal with Novartis has some what of a unique offering when it comes to clinical trials.
Company has inked a deal with Novartis for 10 new clinical trials involving usage of its new operating model meta site, which is based on its mobile research platform NORA.
Company under the leadership of Belinda Tan had closed cumulative funding amount of USD 66 million in year 2016 & 2017. Early round of investments that Science 37 closed in 2015 involved dRx capital, joint investment venture of Novartis.
Science 37 has also been able to impress other pharmaceutical behemoths such as Otsuka Pharmaceuticals, this goes about highlighting potential that Science 37 carries with its amazing service portfolio.