U.S.-based drug delivery specialist Vyteris hopes to gain revenue and operational efficiency by entering into the contract research sector, according to Pharma Times.
Vyteris merged with MediSync Biosciences, which focuses on acquiring and consolidating high-value, niche CROs, SMOs and related businesses such as post-marketing surveillance companies.
According to Vyteris’ Form 10-K annual report for 2010, these opportunities include a signed letter of intent with a service management organization specializing in trials requiring a controlled environment; and negotiations with a CRO running a 50-bed research unit, an “international CRO,” and a research company specializing in post-marketing surveillance.
Vyteris’ new CRO business model is expected “to provide cash flow which can assist in funding operations while we continue to develop our drug delivery technologies,” the Form 10-K says. “It will also provide operational synergies as two business operations are combined in one infrastructure, creating efficiencies in administrative functions as well as other areas.”