Three of India's biggest CROs are joining forces to cash in on U.S. demand for outsourced drug services, launching a combined venture called Axcellerate Pharma.
Headquartered in New Jersey, Axcellerate combines the expertise of TCG Lifesciences, Panorama and AlfaGene Bioscience, focusing on small-molecule and biologics development along with peptide synthesis and oligonucleotide production. Panorama CEO Dilip Mehta will lead the new company, and each of the partners will support its foundation, lending their scientific talent, end-to-end abilities and production facilities, TCG Managing Director Swapan Bhattacharya said.
"This opportunity represents another significant milestone for TCG Lifesciences' continued expansion, as this strategic alliance will expand TCG Lifesciences' geographic footprint and enable us to service clients in the US with a local presence while being supported globally," Bhattacharya said in a statement.
With AlfaGene's experience in assay development and API production in tow, Axcellerate will have all the capabilities it needs to serve an expanding base of U.S. clients, Mehta said.
"We will engineer the facilities to provide the highest level of efficiency, technology and cost effectiveness to our customers, given Panorama's broad involvement and experience in all facets of the pharma/biotech sector," Mehta said in a statement. "We are pleased to join hands with TCG Lifesciences, who will bring in the scientific and technical know how and expertise in the cutting edge areas of drug discovery and development."
- read the announcement (PDF)