CRO Covance has introduced Covance MarketPlace, a new solution that enables Covance’s emerging biotechnology and established pharmaceutical clients to easily find and forge new partnerships in a secure forum.
Sourcing high-quality drug candidates efficiently and effectively is a pivotal step in the industry’s quest to accelerate the development and launch of innovative new medicines. Covance MarketPlace helps biotech companies more effectively showcase their molecules to larger pharma companies as they continue to increase their own in-licensing efforts. With Covance conducting development work for all of the molecules in Covance MarketPlace, prospective partners can be confident in the quality of the data, design of the plan and regulatory acceptance.
John Watson, chief commercial officer and president, strategic partnering, Covance, said, “Covance MarketPlace provides a simple and elegant solution that connects the portfolios of our biotechnology clients with select pharmaceutical partners looking for innovative molecules backed by high-quality and regulatory-compliant data, and insights that leverage our nearly 70 years of experience.”
The company is actively working with its client base of more than 500 biotechnology companies to place their compounds. The MarketPlace will be activated for select Covance pharmaceutical clients, giving them line-of-sight to molecules early in their development lifecycle, typically at the IND/CTA-enabling, first-in-human or proof-of-concept phase.
“With expertise from preclinical through market commercialization, Covance can proactively guide our clients in the design of programs that link robust preclinical strategies to optimized clinical plans to improved product labels,” said Steve Street, vice president and general manager of Covance Early Development. “This scientific, medical and regulatory continuity combined with our unique understanding of the challenges faced by emerging biotechnology companies, affords us tremendous insights that we use to streamline a molecule’s development. Helping our biotechnology clients enhance the quality and value of their compounds, while gaining vital exposure to the right audiences at the right time can increase the likelihood of a novel medicine advancing into the clinic and, ultimately, to patients.”