Athenex Announces Strategic Global Initiatives
Athenex, Inc. recently announced it has strategically expanded its presence in Europe and Latin America to grow its global clinical research and development capacity. The company believes these initiatives have the potential to enhance Athenex’s capacity to conduct global clinical studies and support its regional marketing decision process. They are part of the Company’s strategy to build on its current strong presence in US and Asia, and help maximize the global potential of its pipeline.
Athenex’s oncology focused pipeline currently has nine clinical candidates, including two drug candidates in Phase 3 development. In line with the company’s goal to expand its capability and bandwidth to optimize global development and commercialization of its pipeline products, Athenex has been evaluating operational opportunities in Europe and Latin America.
As part of Athenex’s strategy to establish operations in Europe, the second largest healthcare market in the world, the company has formed a subsidiary in the UK and established offices in Manchester. The company is currently conducting clinical studies in the UK and intends to continue expanding its research and development capabilities in the region.
In Latin America, Athenex recently entered into a definitive agreement to acquire certain assets of CIDAL Limited in exchange for shares of Athenex common stock, subject to customary closing conditions. CIDAL is a contract research organization with headquarters in Guatemala and operations in various countries in Latin America. CIDAL has provided important CRO services and support to Athenex, including for its Phase 3 study of oral paclitaxel and encequidar for metastatic breast cancer. The asset purchase is expected to strengthen Athenex’s clinical research and operations capabilities and support the company’s clinical development worldwide.
“These initiatives represent an important step in our ongoing strategic efforts to expand our clinical research and operations for global development, with the potential for increased clinical research efficiencies and cost-effectiveness” said Dr. Johnson Lau, Chairman and Chief Executive Officer of Athenex. “Our office in Manchester will enable us to evaluate the best strategy for Europe, an important market for Athenex. We have been engaging with many experienced pharma/biotech specialists who are already contributing to our research programs and look forward to working more closely with these talents. We are also delighted to extend our operations in Latin America through CIDAL, which we believe will increase our bandwidth for clinical research and regulatory development. We believe having a stronger presence in these territories will position us well to evaluate new R&D and commercialization opportunities in Europe and Latin America.”
Founded in 2003, Athenex, Inc. is a global clinical stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform and a Global Supply Chain Platform. The Company’s current clinical pipeline is derived from four different platform technologies: (1) Orascovery, based on non-absorbed P-glycoprotein inhibitor, (2) Src kinase inhibition, (3) T-cell receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation therapy. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. Athenex has offices in Buffalo and Clarence, New York; Cranford, New Jersey; Houston, Texas; Chicago, Illinois; Hong Kong; Taipei, Taiwan; multiple locations in Chongqing, China; and Manchester, U.K. For more information, please visit www.athenex.com.
CIDAL is a contract research/site management organization, founded in 2002, that implements and executes Phase I to Phase IV clinical trials in Latin America and the Caribbean. CIDAL currently operates in 12 Latin American countries: Guatemala, El Salvador, Honduras, Costa Rica, Panamá, Dominican Republic, Colombia, Perú, Argentina, Chile, Ecuador, and Brazil. CIDAL’s local knowledge and operational expertise enabled it to deliver unparalleled ethical, effective and efficient clinical research services. Moreover, CIDAL has played an important role in providing training activities to develop expertise in the region in Good Clinical Practice (GCP). It has conducted 34 training sessions certifying more than 750 professionals in GCP. In parallel, in a partnership with Universidad Galileo in Guatemala, CIDAL develops pensum(s) for Clinical Research Associates (CRAs – Clinical Monitors) and for Study Coordinators (SC) leading to university certification for CRAs and (Site) SCs.
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