SAN FRANCISCO--Ascendancy Healthcare, Inc. dedicated to the commercialization of therapeutic products to meet unmet medical needs in China and other high-growth Asian markets, announced today a multi-year collaboration with Quintiles, the world's largest provider of biopharmaceutical development and commercial outsourcing services. Under the terms of the agreement, Quintiles will provide product assessments, clinical research services, including trial planning, productivity optimization, and execution of cost-efficient studies, for therapeutic compounds Ascendancy in-licenses for development and commercialization in China and other Asian markets.
The agreement will span a full spectrum of clinical development activities necessary for the registration of products for commercialization in China. The collaboration will be overseen by a joint development committee composed of representatives from both organizations. The agreement lasts for two and one-half years, with an option for both organizations to renew for an additional two and one-half year period. Further terms of the agreement, including financial details, are not being disclosed.
"We are delighted to announce our new relationship with Quintiles, which has a leading presence as a CRO in China, with full capabilities to support drug development in China," stated Sandy Zweifach, Ascendancy co-founder and Chief Executive Officer. "We believe this agreement with Quintiles will be a key contributor to Ascendancy's goal of becoming the leading partner for companies seeking to commercialize therapeutic products that address the needs of patients in China and other parts of Asia. We are in active discussions with innovative pharma and life sciences firms and expect to announce our first product licensing deal in the second half of this year."
Ling Zhen, General Manager for Quintiles' operations in China, said: "This deal illustrates Quintiles' ability to provide customized solutions in China for customers anywhere in the world. By combining our expertise in product assessment from Quintiles' team in China and clinical trial services through our local CRO, Kun Tuo, we can fully support Ascendancy across the value chain – from strategy development to clinical execution to product approval and market access."
About Ascendancy Healthcare
Ascendancy Healthcare is focused on the development and registration of pharmaceutical products in China and other high-growth Asian markets. The company's partnering model centers around the acquisition of China rights to products approved or in late-stage development in the US, Europe or Japan. Led by a team with extensive operating experience in China and Asia, Ascendancy accelerates entry into these markets by providing clinical, regulatory and commercial expertise, along with funding and on-the-ground development and registration oversight through product approval.
Ascendancy was founded by Arthur Higgins, former Chairman and CEO of Bayer Healthcare, and Sandy Zweifach, former Manager Director of Bay City Capital and Reedland Partners. The company is privately held, and its investors include Bay City Capital and IndUS Growth Partners.