GENova Biotherapeutics Inc. ("GENova") today announced that it is forming strategic alliances with academic research institutions specializing in ground-breaking stem cell research.
Forming relationships with academia gives GENova a strategic advantage in its business of identifying and acquiring promising early-stage biotechnologies for treatment of oncological and infectious diseases. The company already has solid relationships in place with a number of leading universities, as well as with research labs, hospitals, biotechnology companies, and contract research organizations around the globe. It hopes to bolster its list of alliances in the coming weeks and months.
"By forming strategic partnerships with leading-edge academic institutions, we gain the inside track to accessing exciting new drug targets way ahead of the competition," says CEO for GENova Aaron Whiteman. "These relationships are key to maintaining the strength of our acquisition pipeline of potential blockbuster biotechnologies."
Early-stage partnerships with academic institutions underpin GENova's business strategy of acquiring, developing, and then out-liscencing promising new drug targets to major pharmaceutical companies. GENova is capitalizing on an important trend among pharmaceutical companies wherein almost half of their revenues are now generated from in-licensing early-stage products from companies like GENova. The market for effective cancer therapeutics is immense, with revenues projected to rise to US$60.6 billion by 2011.