NEW YORK, Dec. 15, 2005 (PRIMEZONE) -- As pharmaceutical companies increasingly concentrate on core competencies of sales and marketing, more alternatives to self-sufficiency from R&D are being explored to fill pipeline gaps, according to recent reports(1).
While U.S. pharmaceutical industry spending more than doubled to $33.2 billion in 2003(2) the number of New Molecular Entities (NMEs) submitted for approval has dropped by 50%, to about 40, and the number of New Chemical Entities (NCEs) produced by company declined by 41%(3).
Bioaccelerate Holdings Inc (BACL.OB), an emerging biotechnology company, is well positioned to help fill this pipeline gap through its unique business model of acquiring and investing in the development of pharmaceutical compounds through to the next stage of development.
"Our colleagues in Big and Emerging Pharma clearly face a challenge to strengthen existing franchises and build future drug portfolios," said Frank Armstrong, M.D from Bioaccelerate. "Three of the Top 10 companies have completed over 220 recent product in-licensing deals to increase their portfolio, which we believe reinforces to many other potential Pharma partners the value Bioaccelerate's business model and our portfolio of development products."
In addition, many early stage compounds developed in academia, biotech companies and emerging pharmaceutical companies fail to progress because these companies and institutions do not have sufficient resources to move their product to the next stage of development. A number of these compounds have the potential to succeed in the marketplace given appropriate support and effective development.
Bioaccelerate is currently working with prominent experts from academia and the pharmaceutical industry to explore ways to help facilitate more efficient technology transfer so that promising new medicines can be brought to market more quickly and cost effectively. More updates will be released as the project progresses into early 2006.
About Bioaccelerate
Bioaccelerate Holdings, Inc. (OTCBB:BACL) is a pharmaceutical development organization ("PDO") that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Bioaccelerate uses its broad network of academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies, which are organized by vertical portfolios in five therapeutic areas: oncology, specialty pharmaceuticals, central nervous system disorders (CNS), cardiovascular disease and anti-infectives.
Bioaccelerate conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol "BACL." For more information on Bioaccelerate, visit the company's website at http://www.bioaccelerate.com.
Bioaccelerate Safe Harbor Statement
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Bioaccelerate's compounds under development in particular; the potential failure of Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name Mobile Design Concepts, Inc. Bioaccelerate disclaims any obligation to update these forward-looking statements.
Refs:
(1) -- Cohen, Jeff et al., Strategic alternatives in the
Pharmaceutical Industry. Kellogg School of Management,
Northwestern University, November 16, 2004
(2) -- PhRMA 2004 Pharmaceutical Industry Profile
(3) -- Filmore, David et al., Pipeline Challenges. Modern Drug Discovery.
October 2004. pp 28-34