Symic Biomedical recently spotlighted its strategic alliance with Nordic Bioscience A/S; designed to place a primary focus on the clinical development of Symic’s osteoarthritis (OA) program. A Symic news release reports that Nordic Bioscience is a recognized pharmaceutical development organization with scientific and clinical expertise in the OA field. The company pioneers work in the biomarker space with full translational and regulatory implementation capabilities.
The release adds that Nordic Bioscience has previously run or is running clinical programs in OA for Novartis Pharma AG and Merck Serono. Combining Nordic’s expertise in OA with Symic’s proprietary and novel compounds for treating OA is intended to offer promise for a disease that impacts many worldwide.
Under the terms of the agreement, Nordic Bioscience will provide clinical development services to Symic on a shared-risk basis in exchange for a payment structure that includes service fees and equity in Symic’s OA subsidiary. Symic, the release notes, retains responsibility for the development and commercialization of the products.
According to Ken Horne, chief executive officer of Symic Biomedical, “Symic is developing a new category of therapeutics with a wide variety of clinical applications. As a company our goal is to find the best option for development of each of our programs. With Nordic Bioscience’s expertise in OA, we have clearly found the best possible option for Symic’s OA program.”
Morten Karsdal, chief executive officer of Nordic Bioscience, articulates the company’s excitement in partnering with Symic, adding, “OA is a clinical area that Nordic Bioscience has extensive experience in, and our biomarker expertise lends itself particularly well to Symic’s therapeutic approach.”
[Source: Symic Biomedical]