Global biopharmaceutical company Athenex has announced the expansion of its footprint in Europe and Latin America to grow its global clinical research and development (R&D) capacity.
According to the company, the initiative will enhance Athenex’s capacity to conduct global clinical trials, support its regional marketing decision process and expand its portfoilio in the US and Asia.
Currently, the company’s oncology-based pipeline has nine clinical candidates, among which two of them are in Phase III development.
Athenex is in the process of evaluating operational opportunities in Europe and Latin America, as part of its global strategy of commercialising its products.
So as to establish its operations in Europe, which is the world’s second largest healthcare market, Athenex has formed a subsidiary in the UK and established offices in Manchester, accordingly.
At present, the company is conducting clinical trials in the UK offices, executing its intention of expanding its R&D capabilities in the region.
In Latin America, Athenex recently signed an agreement to buy certain assets of CIDAL in exchange for shares of its common stock. The agreement is, however, subject to customary closing conditions.
Headquartered in Guatemala, CIDAL is a contract research organization with operations in various countries in Latin America.
Athenex CEO and chairman Johnson Lau said: “These initiatives represent an important step in our ongoing strategic efforts to expand our clinical research and operations for global development, with the potential for increased clinical research efficiencies and cost-effectiveness.
“Our office in Manchester will enable us to evaluate the best strategy for Europe, an important market for Athenex. We have been engaging with many experienced pharma/biotech specialists who are already contributing to our research programs and look forward to working more closely with these talents.
“We are also delighted to extend our operations in Latin America through CIDAL, which we believe will increase our bandwidth for clinical research and regulatory development.”