Phase I clinical trial provider Nucleus Network has expanded across Australia adding a New South Wales (NSW) clinic to its offerings in a bid to expand the clinical trial industry in the country.
The Nucleus Network has announced that it has added the new Phase I site, next to St Leonards’ Royal North Shore public hospital, expanding the company’s capacity in the country by 40% with the site expected to generate 100 new jobs in the region.
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The company was acquired by a private investment firm Blackstone in October 2021, with the aim of encouraging more offshore biopharmaceutical companies to launch Phase I trials in the country where Phase I trials account for 30% of all trials.
Teena Pisarev, CEO of Nucleus Network, said: “The expansion of our operations and the increase in overnight capacity across Australia firmly underline our dedication to advancing medical research and improving patient outcomes on a global scale.”
At present, the Nucleus Network is involved in a number of clinical studies across the country including the Australian arm of Microba Life Sciences’ study in ulcerative colitis. The trial provider was also involved in Phase I trials of Odyssey Health’s concussion treatment PRV-002.
The new clinic adds to the Nucleus Network’s two other sites in Melbourne and Brisbane, with a capacity for 158 patients between them, as well as an additional clinical site in Minneapolis, US.
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By GlobalDataThe announcement follows a series of investments and acquisitions in the life sciences sector for Blackstone in 2023, with the firm having previously invested $140m in Sutro Biopharma’s Vaxcyte product licensing agreement in June.
Michael Blickstead, Blackstone’s head of Australia and New Zealand, said: “We are pleased to support Nucleus Network to be at the forefront of bringing medical innovation to New South Wales. We are confident that with our scale and life science expertise, we can make a positive impact on people’s lives, communities, and businesses by attracting global biopharmaceutical companies to the Australian market and contributing to job creation.”
