With expansion a prime focus for businesses worldwide, many are looking towards rapidly establishing new
regions of growth, particularly in Europe and the Middle East.
This section of Lab Asia will especially look at the success of both Asian and European companies with established premises or business
EUROPE & MIDDLE EAST by Heather Hobbs To appear in our next issue, send your Business and Financial News stories to
heather@intlabmate.com
partnerships, highlighting the opportunities that exist while realising potential for other companies to move into export markets.
Collaboration to Deliver a Pre-Clinical Liver Pharmaco-Toxicological Testing Assay
Belgian company Promethera Biosciences is partnering with EMD Millipore to provide an improved ready-to-use microfl uidic perfusion liver assay designed to perform more robust studies in pre-clinical toxicity and drug metabolism. The project for developing a new product combining the strengths of EMD Millipore’s Pearl microfl uidic technology and of Promethera Biosciences H2Screen/H3Screen cells was selected by the Belgian Walloon Region Biocluster (BioWin) and the Massachusetts Life Sciences Centre (MLSC) following a call in April 2013. It will be funded EUR 900K in total for both partners.
“We are very pleased to initiate this collaboration with EMD Millipore and to combine our expertise to develop a ready to use liver based assay. We sincerely thank the Walloon region and the MLSC for funding this innovative project,” said Eric Halioua, Chief Executive Offi cer of Promethera Biosciences.
“The opportunity to work closely with Promethera over the course of the project speaks to the nature of our organisation, enabling our partners to conduct potentially
life-saving research,” said Robert Yates, president and CEO of EMD Millipore. “We are looking forward to building our relationship and more importantly to the outcomes this partnership has the potential to deliver. A sincere thanks to the MLSC for the opportunity to see what this collaboration can achieve and more importantly the continued support of the Massachusetts Life Sciences industry.”
Promethera Biosciences is a spin-off of the Universite Catholique de Louvain (UCL); founded in 2009 it evolved from the lab of Professor Etienne Sokal, a leading expert in pediatric liver disease and cells. Located in Mont-Saint- Guibert, Promethera Biosciences has raised €34 million in two fi nancial rounds, in capital, grants and loans from the Walloon Region. The main investors are Vesalius Biocapital, Mitsui Global Investment, BI Venture Fund, Shire and SRIW. The company has 46 employees led by an experienced management team.
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Clinical Network Services Launches UK Offi ce
AAA Enters UK and Irish Nuclear Medicine Markets with Acquisition Advanced Accelerator Applications, a fast growing
international specialist in Molecular Nuclear Medicine (MNM), has entered into an agreement to acquire 100% of the shares of Imaging Equipment Ltd (“IEL”), a privately- held UK distributor of nuclear medicine products and technologies, in newly issued AAA shares.
As part of the transaction, IEL’s founding shareholders and top management will become shareholders in AAA, which demonstrates the commitment to continuity and the shared common views in terms of development and value creation.
The acquisition gives AAA its fi rst direct presence in the UK and Ireland, expanding its existing services and expertise in nuclear medicine and providing it with an established sales and marketing platform. AAA will also gain the rights in the UK and Ireland to IEL’s licensed SPECT radiopharmaceutical diagnostic product, IELMAG3, which is used to image the kidneys and urinary tract. At end of December 2013, IEL generated sales of £6.77 million, up 58% on the previous year.
Stefano Buono, Chief Executive Offi cer of AAA, commented: “The acquisition of IEL is in line with our strategy to further expand and strengthen our position in Europe. The UK and Ireland are important markets for both our existing and future products. IEL’s specialist expertise and strong presence in these markets is a complementary fi t with AAA’s business and we look forward to working with their management team to drive the integration and growth in 2014.”
Russell Neal
Clinical Network Services (CNS), which provides broad services in the planning, implementation and delivery of preclinical, Phase 1 and 2 trials, has opened an offi ce in St Albans, headed by Paul Cronin who joins as UK Director and Director, Business Development. The location was chosen for its proximity to the European Medicines Agency (EMA) and the UK MHRA both of which are based in London. The new venture is primarily a BioDesk initiative which Paul will lead in support of CNS clients requiring access to the European regulatory agencies as well as European clients seeking entry to Australia and New Zealand. CNS will continue to undertake its core business of conducting early phase clinical trials in Australian & New Zealand given the simplicity of regulatory review and time advantages for this region.
Stefano Buono
Nicholas Stevens, Managing Director of IEL, added: “We are excited to be joining AAA, a prominent and well respected leader in the Molecular Nuclear Medicine market. This partnership will bring considerable benefi ts to IEL and will signifi cantly strengthen our position in Europe. This all-share agreement demonstrates our confi dence in AAA’s long term strategy and we are delighted to have the opportunity to be a part of that.”
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The Company has also launched a new Biometrics service led by Otto Damsma, Director of Biometrics and Glynn Morrish as Pharmacometrician/Biostatistician at its Brisbane headquarters.
“I’m really pleased to be joining such a dynamic team and look forward to working closely with the Australian and UK operational teams to develop the CNS business across Europe and more generally the northern hemisphere,” Paul Cronin said.
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Russell Neal, Managing Director of CNS added: “By opening the UK offi ce and making these three strategic hires’ CNS is fast becoming the leading Australian supplier of strategic product development advice and early stage clinical development support to small to medium sized biotechnology companies. Paul is widely regarded in international and local industry circles and Otto and Glynn are both considered experts in their fi elds, bringing a wealth of knowledge to our team that will deliver an ongoing advantage of our clients at home and abroad.”
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Business
Opportunities
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