What is the Global Pharmacogenetic Market
PPD and Axys Pharmaceuticals form a joint venture for pharmacogenetics and thus the world's largest organization for services and products in pharmacogenetics
SOUTH SAN FRANCISCO, CALIFORNIA AND WILMINGTON, NORTH CAROLINA, Jan. PRNewswire - Axys Pharmaceuticals, Inc. (Nasdaq: AXPH) and PPD Inc. (PPD) (Nasdaq: PPDI) announced the formation of PPGx, Inc., a global organization providing comprehensive pharmacogenetic services and products to pharmaceutical and biotechnology companies. Pharmacogenetics is the use of genetic information to determine the safety, toxicity, and / or effectiveness of active ingredients in individual patients or patient groups. Pharmacogenetics is being adopted by more and more companies as an essential tool in the discovery and development of tools and is becoming increasingly important as part of individual diagnosis and treatment.
As foreseen in the agreement, PPD's pharmacogenetic subsidiaries, Intek Labs, Inc. and Intek Labs Ltd., have merged into PPGx, bringing their technologies and expertise in genotyping, phenotyping, and large-scale DNA purification and archiving to the table. PPD will also bring employees and bioinformatics services from its former bioinformatics subsidiary Belmont Research to PPGx. PPD will provide the initial capital to PPGx, obtain the exclusive marketing rights to PPGx's pharmacogenetic services and products, and will own a minority stake in the new company with the option to increase its ownership interest in PPGx.
Axys has granted PPGx the license for all intellectual property in the field of pharmacogenetics, the self-developed bioinformatics software and its Allele Frequency Database, its own database consisting of information about polymorphisms in pharmaceutically relevant genes. In return, Axys will receive a license fee and a majority ownership interest in the company. This transaction places an initial valuation for PPGx of more than $ 60 million.
PPD will commercialize a comprehensive package of PPGx's pharmacogenetic products and services for pharmaceutical and biotechnology companies, including identification and characterization of polymorphisms (genetic variants), genotyping and phenotyping, DNA banking, genetic-based clinical diagnostics, clinical genetic informatics databases and analysis Tools for correlating genetic variants and clinical outcomes. PPD will also make PPGx's Allele Frequency Database available on a subscription basis to pharmaceutical and biotechnology companies seeking information on polymorphisms that affect the action of a drug. This database includes easy-to-use tools for designing and evaluating clinical trials on a genetic basis.
Dr. med. N. Jean Warner, currently vice president of medicine at Axys, will become chief executive officer of PPGx, which will be based in La Jolla, California. "PPGx provides world-class pharmacogenetic capabilities in both drug discovery and development," commented Dr. Warner. "We expect that the combination of the existing technologies, tools and consulting experience of our two founding companies, as well as the new technologies developed by PPGx, will meet the pharmacogenetic needs of our customers from A to Z. It is our goal, our solutions to offer in the market and to be the best pharmacogenetics company. "
"With the 1997 acquisition of Intek Labs, PPD took the lead in the CRO industry by integrating pharmacogenetics into its global clinical development services. Over the past year, our clients have recognized the value and influence of pharmacogenetics in drug development," noted Fred Eshelman, chief executive officer for PPD. "Forming this joint venture with Axys is the logical next step for PPD because it allows us to exclusively offer a comprehensive pharmacogenetics program that will stay ahead of the rapidly growing research and development needs of our customers. Our customers are getting on Each stage of drug development has access to individual pharmacogenetic services and products, or the ability to contract for a complete turnkey pharmacogenetics program. "
John Walker, Chairman and Chief Executive Officer of Axys, commented, "Our joint venture with PPD offers a great opportunity to be the first and best company to bring a full range of pharmacogenetics services to market as we did earlier last year Sequana acquired, we believed that one of the most obvious uses for their technology platform was to provide clinical trial services in this emerging market and use the information needed to help deliver the right drug to the right patient PPGx provides that with existing skills, experienced people and ROI. The goal of becoming "a world-class solution provider" mentioned by Dr. Warner is something we strongly support. "
Axys Pharmaceuticals is a leader in the integration of life science technologies with a focus on turning genetic discoveries into drugs. The company has research partnerships with world-class pharmaceutical companies covering a wide range of therapeutic areas, including respiratory and cardiovascular and infectious diseases, as well as oncology and diseases of the central nervous system.
Except for the historical information mentioned, this press release contains forward-looking assumptions that involve risks and uncertainties that could cause Axys' actual results to differ materially from those mentioned herein, including the risk that clinical trials may or may not proceed as expected could be successful, the risk of Axys 'early development, the reliance on Axys' efforts of its partners, the risk that the partnerships will not succeed, the risk that Axys will not be able to start new partnerships successfully, the competition, the risk of unexpected difficulties and delays in the development of new technologies; and general economic conditions that could affect actual results and developments of Axys. Additional factors that may cause or contribute to such discrepancies include, but are not limited to, those described in the Business and Additional Risk Factors chapters in the Company's reports to the SEC, including the Form 10 report -K for the tax year ended December 31, 1997.
PPD, Inc. (PPD) is a leading global provider of research and development contract and advisory services to pharmaceutical and biotechnology companies. With the aim of providing services that maximize the return on customers' massive investments in research and development, PPD provides innovative technologies and comprehensive services for drug discovery, clinical development and the aftermarket. The company employs more than 2,800 professionals in 44 offices in 18 countries around the world.
With the exception of historical information, all statements, expectations and estimates, including expectations and estimates about the value of this cooperation, which are stated above, are forward-looking assumptions that are subject to a number of risks and uncertainties. While PPD has made every effort to be as accurate as possible in the formulation of these forward-looking statements, it is possible that management's judgment is not accurate. In addition, important factors that could cause results to differ materially include the following:
Economic conditions in the pharmaceutical and biotechnology industries, outsourcing trends in the pharmaceutical and biotechnology industries, risks related to acquisitions, the loss of large contracts, competition within the CRO and pharmaceutical industries, continued success in increasing sales, the ability , Attracting and retaining officers, and the factors detailed from time to time in the company's filings with the SEC, copies of which are available on request from the Investor Affairs Department. For more information about Inc., call (USA) 1-800-776-4636 after entering Company Code PPDI (7734).
ots Original text: PPD, Inc .; Axys Pharmaceuticals, Inc.
Researchable on the Internet: http://www.newsaktuell.de
Attention Editors: Additional information about Axys Pharmaceuticals, Inc. is available on the company's website at http://www.axyspharm.com. More information about PPD, Inc., is available on the company's website
http://www.ppdi.com available. Until the website for PPGx, Inc. is established, additional information about Intek Labs and Belmont Research will be available on their respective current sites at http://www.inteklabs.com and http://www.belmont.com.
Axys Pharmaceuticals, Inc .:
Finance - David Gennarelli, Manager, Investor Relations
Tel. (USA) 650-829-1000 or
Media - Justin Jackson, Burns McClellan, Inc.
Tel. (USA) 212-213-0006
PPD, Inc .:
Finance - Rudy Howard / Chief Financial Officer or
Jimmy Sloan / Director, Corporate Finance
Tel. (USA) 910-351-0081 or
Media - Nancy Zeleniak, Director, Corporate Communications
Tel. (USA) 919-462-4088
*** ORIGINAL OTS TEXT, EXCLUSIVELY CONTENT
SENDER'S RESPONSIBILITY ***
- Should a civil engineer make a master
- Should Firebase be used for web applications
- Who are the best engineers on LinkedIn
- Has the Himalayas protected India from the Chinese invasion
- Make backlinks from Github help for SEO
- Why do a bogus FDA audit
- Are actuaries being replaced by computers?
- Is atheism rational or possible
- How did Tripura get its name
- What is the formula of sunlight
- What's the best Grand Theft Auto
- How was your AIITS 6 2019
- Who do you wish you weren't
- How do I score weeds in OOTY
- The Google Drive API is free
- What is dissociation when it comes to trauma
- Why is everyone like Logan Paul
- How can you learn optical technology
- Would you call a man a slut
- How many printers has Makerbot sold
- What are the impressions of the people at RockMelt
- How does the health savings account affect the providers?
- Is Goa India worth visiting
- How far is true astrology