Biovitrum creates iNovacia
Company spin-off for contract research in early drug discovery
Biovitrum and iNovacia announced the formation of iNovacia, an independent research company, through a management buy-out. iNovacia has the competence and comprehensive instrumentation required to develop a project from concept to a well-characterized prototype drug, a lead compound, with the desired effect on the selected molecular mechanism. With 35 employees and more than 1,000 m2 of laboratories, iNovacia becomes the Nordic region's largest contract-research organization in early drug discovery, according to the company.
For Biovitrum, the formation and spin-off of iNovacia offers an opportunity to secure regional access to key technical expertise for early drug discovery projects. The market for contract research in the pharmaceutical industry is undergoing strong growth internationally. Already, iNovacia has secured assignments from partners outside the Nordic region. As a further step in the efforts to establish the company on an international market, iNovacia has entered into alliance with Asinex Ltd, a strongly expanding company within the pharmaceutical chemicals sector, with its principal operations in Moscow. Asinex will also hold approximately 20 percent of the shares of iNovacia.
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