GENova Biotherapeutics Inc. ("GENova"), a biotechnology company that develops novel therapeutic proteins that disrupt the advance of life-threatening cancers, today announced it has signed a collaboration deal with Beckpharma Ltd. ("Beckpharma") -a pharmaceutical development company also involved in cancer treatments.
The two companies are joining forces in their mutual mission to identify, acquire, and out-license promising cancer drugs in an effort that will not only save millions on GENova's R D budget, but at the same time will significant increase GENova's distribution, the deal with Beckpharma is the latest deal in a string of deals that GENova has recently done in a continued effort to increase its IP portfolio and increase its distribution network.
"By combining our efforts with Beckpharma's, we are casting a wider net when it comes to sourcing new cancer drug targets. Beckpharma has close relationships with academic research institutions around the world, and now, through this collaboration, their industry contacts become ours, and vice versa," says Aaron Whiteman, CEO for GENova.
This collaboration will bolster GENova's acquisition activities and funnel more promising drug targets into its drug development pipeline. GENova will also leverage the scientific expertise of Beckpharma's Research and Development Team, as well as its established distribution channels with Big Pharmaceutical companies.
Furthermore, scientists in both GENova and Beckpharma are examining their current IP portfolios to gain insight into possible synergies between their drug targets, and the possibility of making a stronger, better, combined product by coordinating their biotechnologies.
"This is a positive step for GENova," says Whiteman. "Through our collaboration with Beckpharma we are gaining access to their technologies and relationships, and we hope to leverage that to bring our patents to market faster, and thus start reaping payments on our potential blockbuster drug patents".
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