Sep 16 2009
GENova Biotherapeutics Inc. ("GENova") today announced that it has signed a collaboration agreement with Prime BioResearch, Ltd. ("Prime BioResearch") the agreement is focused on how personalized medicine can be applied to cure cancer.
Prime BioResearch specializes in personalized medicines, which involve the use of targeted therapies based on a patient's genetics to cure underlying diseases; this market is undergoing a revolution at the moment and is expected to be a USD5bn+ industry within the next 5 years. The deal between GENova and Prime BioResearch will put GENova to the forefront on personalized cancer treatments and enable GENova to carve out a percentage of this market over the next coming years.
"Prime BioResearch knows that each patient is unique, and that not every person with the same disease responds to each drug in exactly the same way, "Says Aaron Whiteman, CEO for GENova. "They use biomarker information to determine a patient's potential responsivenes to each drug and to maximize treatment and eliminate possible adverse reactions."
The two companies are both in the business of acquiring early-stage developmental drugs, and out-licensing them for development and commercialization, and garnering royalty payments in the process. GENova's focus is oncology, while Prime BioResearch specializes in Obesity, Type 2 Diabetes and other metabolic disorders. They are confident that through scientific collaboration in the field of personalized medicines, they will expedite their drug development activities and subsequently add hundreds of millions of dollars to the bottom line by licensing the technology to companies like Pfizer, Merck, Eli Lilly, Sanofi, Roche, and GSK.
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