Encorium wins $6.2m EU vaccine trial deal
The deal, financial terms of which are not being released, will see Pennsylvania-headquartered Encorium manage and carry out clinical assessment of a novel vaccine product for an, as yet, unidentified indication in a number of European countries.
New Encorium CEO David Ginsberg, who was appointed in September, said that the firm is: "delighted to have become a significant partner to this global pharmaceutical company in their vaccines development.
He went on to say that: “Encorium is currently a leading CRO, when it comes to the experience and expertise in the clinical development of paediatric vaccines,” and added that this area will continue to be a key focus in the future.
Ginsberg’s thoughts were echoed by company executive chairman Kai Lindevall, who explained that: "We are very encouraged by the volume of new contracts we have been able to sign during the last 10 weeks.
“Most of these wins relate to our European operations, but we are currently strengthening our business development efforts in the US and expect to achieve results from this effort early next year.
He added that the company “will continue to strengthen our capabilities in our three primary areas of focus, vaccines, oncology and cardiovascular trials, while expanding into additional therapeutic areas."
Busy contract program
As Lindevall commented, the summer has been a busy time for Encorium’s contract department. In July the firm, and South American partner Estudios Clínicos Latino América (ECLA), signed a $5.1m deal to assess multiple doses of a new anti-thrombotic in patients with cardiovascular disease.
Following that in July, Encorium agreed deals worth $5m with several multinational as well as smaller biopharmaceutical companies, covering a range of trials in North America and Europe.
Additionally, Encorium is due to acquire the oncology-focused contract research organisation (CRO), Prologue Research International, as part of its efforts to expand its global reach.
The transaction is now subject to the completion of due diligence and approval by both parties' Board of Directors and the signing of a definitive agreement. All being well, the deal is expected to close in the third quarter of 2008.
