Will offer patient-based, 'proof-of-concept' medical imaging studies on a commercial basis for the first time to pharmaceutical and biotechnology companies developing targeted therapy treatments
Nottingham, UK-based Biovu will utilise state-of-the-art imaging technology and expertise to assess the effectiveness of new products.
Biovu has a particular therapeutic focus on the areas of oncology, respiratory disease and gastroenterology and is establishing a network of consultant physicians to recruit patients for studies.
To complement its imaging expertise, Biovu has world class capability in radiolabelling a wide variety of formulations for use in its complex clinical trials. Target-specific therapies include monoclonal antibodies or so-called 'magic bullets' and potentially provide better therapeutic treatments than conventional drugs.
In cancer patients, for example, monoclonal antibodies or other similar therapeutic agents could be used to provide targeted chemotherapy, enhancing treatment and minimising side effects. Biovu, a subsidiary of Pharmaceutical Profiles, will provide vital information on the viability of new targeted therapies in small numbers of patients during early clinical development to enhance the decision-making process.
These 'proof-of-concept' studies could help save millions of dollars in development costs and speed up the development of novel, potentially life-saving therapeutics.
Figures from ING Barings suggest the market for monoclonal antibodies alone will grow dramatically in the future.
At the moment there are only a handful of marketed monoclonal antibodies, however, Barings suggest around 80 products will be on the market by 2010. Currently, there are around 130 monoclonal antibody-based products in development and the global market could be worth as much as $15 billion by 2010.
Some 53% of monoclonals in development are for cancer treatment, 25% for autoimmune diseases, 6% for infectious diseases, 6% for organ rejection prevention and around 4% for cardio vascular diseases.
"The real benefit to the industry of studies undertaken by Biovu is the use of small numbers of patients in 'proof-of-concept' studies where we can truly assess the performance of new therapeutics before embarking on costly and time-consuming multi-centre studies", explained Carole Kenyon, chief operating officer.
"The information provided by Biovu on the delivery, biodistribution, targeting properties, safety and clearance of novel drugs will ensure that fewer unsuitable products are taken forward into Phase IIb development and beyond, only to subsequently fail".
She continued: "Launching a new company is never easy, but we believe that Biovu is well positioned to streamline the decision process making a significant contribution towards helping bring new generations of therapies to market more quickly and efficiently." Biovu has already recruited a business development team to promote its groundbreaking services and is currently recruiting additional project management and operational staff.
