Increased focus within Medivir’s R&D and optimizing

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Jun 16, 2015 at 2:45 AM

Increased focus within Medivir’s R&D and optimizing resources through a partnership with GVK BIO

Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR) today announces a reorganization within its Discovery Research department, increasing its focus within the core areas of oncology and infectious diseases, and a partnership with GVK Biosciences Private Ltd. (GVK BIO) of Hyderabad in India, designed to deliver enhanced efficiency and quality within its portfolio of research projects while over time reducing overall research costs and enhancing future cost flexibility. To ensure that its operations are run as efficiently as possible, Medivir has conducted a review of its Discovery Research operations. While committed to maintaining the current size of its discovery portfolio to deliver a constant flow of candidate drugs into its development pipeline, it has identified the opportunity to improve quality and efficiency through partnership with GVK BIO. The partnership will 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 approximately 20 scientific staff will further accelerate the synthesis and testing of compounds. The company has also decided to exit the neuropathic pain area, following adverse findings in non-clinical safety studies of MIV-247, its cathepsin S inhibitor being developed for neuropathic pain. Development of this program has been terminated and future drug discovery efforts will be focused in the core areas of oncology and infectious diseases. As a result of the changes described above, around ten scientific staff at Medivir facilities in the UK and Sweden will be made redundant. “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” said Niklas Prager, Medivir CEO. “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 research costs and improving cost flexibility, and we look forward to a productive partnership with our colleagues at GVK BIO”. “We are excited about GVK BIO’s partnership with Medivir. Medivir 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 For further information, please contact: Ola Burmark, CFO Medivir AB, mobile: +46 (0) 725 480 580 Richard Bethell, EVP Discovery Research Medivir AB, mobile: +46 (0) 727 043 211 Dorothy Paul, GVK Biosciences Private Ltd., dorothy.paul@gvkbio.com Medivir is required under the Securities Markets Act to make the information in this press release public. The information was submitted for publication at 08.30 CET on 16 June 2015. About Medivir Medivir is a research based pharmaceutical company with a research focus on infectious diseases and oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical need. Our commercial organization provides a growing portfolio of specialty care pharmaceuticals on the Nordic market. Medivir is listed on the Nasdaq Stockholm Mid Cap List. About GVK BIO GVK Biosciences (GVK BIO) is Asia’s leading Integrated Discovery Research and Development organization. GVK BIO provides a broad spectrum of services, stand -alone and integrated, across the R&D value chain. GVK BIO’s discovery services consist of Chemistry, Biology and Informatics; the development services include Process R&D and Custom Manufacturing GVK BIO’s diverse portfolio of more than 350 customers includes some of the world’s largest pharmaceutical, biotechnology, agro, life science companies and leading academic institutions. Please visit us at www.gvkbio.com to learn more.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Flying Car Regulatory Sandbox Begins in UAE

Pioneering Flying Cars in the Desert In a move that seems right out of a science fiction screenplay, ARIDGE—the bigwig of flying cars from Asia—has taken a giant leap. They’ve cozied up with the UAE, locking arms to cook up the world's first regulatory sandbox for personal flying cars. Now, don’t laugh—sandbox isn't just for toddlers. It’s the playground where...

Tragedy Highlights Need for E-bike Safety Overhaul

A Dire Wake-Up Call in the East Village We're staring hard at a heartbreaking mess in the East Village. A 15-year-old girl lost her life while riding an electric Citi Bike, hit by an industrial truck. Let's not dance around it—this is a gut punch, the kind you never want to ever hear about, and one that comes with a bitter flavor of 'what if?' Age Verification: A...

BarrelPick.com Launches for Bourbon Aficionados

Just when you think you've seen all the ways to enjoy bourbon, along comes BarrelPick.com with a tantalizing new proposition. They're throwing down the gauntlet for bourbon lovers everywhere by letting you buy an entire barrel, let it sit around for a bit, watch it mature, and then call the shots on when it finally sees the light of day in a bottle. Talk about skipping...

Med Spa Visits: Key Insights from Lindsey Smith

Moving Beyond the Fear Factor Stepping into a med spa for the first time can be nerve-wracking, especially if you're unsure of what to expect. Lindsey Smith, an expert from Flawless Med Spa in Bryant, Arkansas, knows just how critical it is to navigate this terrain with clarity. Her approach emphasizes building a foundation of trust and understanding from the get-go. Fear...

Qatar Foundation Spurs Sport-Driven Empowerment Moves

Here we go, diving into the serious talk of the moment: sports pushing boundaries to uplift society's underdogs. Envision yourself in the halls of Wilton Park, where the thinkers, the dreamers, and the doers convened in the name of change. Qatar Foundation ain't just sitting pretty; they're championing the cause to harness sport for impactful social threads across the...

Insta360 Expands with Times Square Flagship Store

Insta360 Times Square Opening Marks Bold Expansion I dropped by Times Square today, and what do I see? Insta360 planting its flag right in the heart of New York City. Now, this isn't your run-of-the-mill grand opening—it’s the first flagship store outside of Asia, and it screams of big ambitions. Nestled at 1515 Broadway, the store is smack in the middle of one of the...

Papa John's Faces Class Action Over Misleading Info

Trouble Brewing for Papa John's Investors Rolling the dice in the stock market sometimes feels like playing the lottery, doesn't it? This time around, it's Papa John's (NASDAQ: PZZA) serving up a slice of turmoil for its investors. The pizza chain's got itself tangled in a class-action lawsuit, and it's the shareholders who're left with a bitter taste. Investors Cry Foul...

USPS Rolls Out Christmas Cookie Stamps Nationwide

USPS Delivers Nostalgia with Cookie-Themed Stamps Let's talk stamps, folks. The U.S. Postal Service has rolled out its newest Christmas Cookies Forever stamps, bringing a dash of sugary nostalgia to mailboxes nationwide. The release was celebrated at the Smithsonian National Postal Museum, spotlighting a tradition as sweet as the sugar cookies themselves. These aren't...

Why Liver Nurture Taps into Health Sector Trends

Liver Wellness: A Sector on the Rise Remember when everyone was all about heart health and cholesterol levels? Seems like these days, folks have shifted their focus a bit south—right to the liver. It's no surprise, really. With our modern diet and lifestyle choices squeezing the life out of this hard-working organ, people are on the hunt for ways to give it the TLC it...