Target PharmaSolutions closes out the year with a pair of partnerships

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North Carolina-based Target PharmaSolutions is closing out the year with a pair of partnerships that includes Gilead and Bristol-Myers Squibb. (Getty/Creative RF)

North Carolina-based Target PharmaSolutions is closing out the year with a pair of partnerships that includes Gilead and Bristol-Myers Squibb.

The CRO’s deal with Gilead is for Target’s Hepatitis B study as well as for the Target-NASH (nonalcoholic fatty liver disease) study, the Triangle Business Journal reported. The partnership with Bristol-Myers, which also has a previously inked deal with Target for its NASH and cancer studies, will expand that deal to include the Target-IBD (inflammatory bowel disease) study.

Financial terms of the deals weren’t disclosed. However, they represent the 13th and 14th such partnerships since Target PharmaSolutions formed in 2016.

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“We are very excited to have Gilead join Target-NASH and Target-HBV,” Meg Powell, the company's chief executive, said in a statement regarding the Gilead deal. “It is a privilege to partner with a company so focused on advancing the understanding of liver diseases."

She told the Triangle Business Journal that both were “multi-year relationships.”

Target, which raised $2 million in series A funding in 2016, was acquired by the private equity firm of Norwest Venture Partners earlier this year. Other pharma companies in deals with Target include Allergan, Intercept, Boehringer Ingelheim and Novartis.