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GVK Bio inks deal with Swedish firm
GVK Bio inks deal with Swedish firm. City-based GVK Biosciences Private Ltd on Tuesday announced a partnership with Swedish firm Medivir AB aimed at delivering enhanced efficiency and quality within its portfolio of research projects while over time reducing overall research costs and enhancing future cost flexibility.
Hyderabad: City-based GVK Biosciences Private Ltd on Tuesday announced a partnership with Swedish firm Medivir AB aimed at delivering enhanced efficiency and quality within its portfolio of research projects while over time reducing overall research costs and enhancing future cost flexibility.
The Nasdaq-listed Medivir AB also undertook reorganization within its Discovery Research department, increasing its focus within the core areas of oncology and infectious diseases. “We are excited about GVK Bio’s partnership with Medivir which chose GVK Bio over several other CROs on the basis of its scientific strength and its ability to perform integrated research with chemistry and biology.
We look forward to delivering significant value to Medivir shareholders and to a productive partnership” said Manni Kantipudi, CEO, GVK Bio. The partnership is expected to consolidate and strengthen all current out-sourced synthetic chemistry in a single facility at GVK Bio’s Integrated Discovery Research Campus where an addition of nearly 20 scientific staff will further accelerate the synthesis and testing of compounds.
“This reorganization and resource optimization will improve efficiency and enhance our ability to deliver well-differentiated candidate drugs into our development pipeline while over time reducing overall researchcosts and improving cost flexibility, and we look forward to a productive partnership with our colleagues at GVK Bio,” Niklas Prager, CEO, Medivir. We continue to assess all aspects of the productivity and cost-effectiveness of our businesses in order to drive innovation and maximize share-holder value, he added.
