BiologicsMD Signs Deal to Make Its Osteoporosis Treatment
by June 12, 2012 4:15 pm 150 views
Fayetteville drug development startup BiologicsMD announced on Tuesday a partnership with an Oklahoma firm that will make the company’s osteoporosis treatment.
BioMD, which has developed what it considers a breakthrough treatment for the disease called PTH-CBD, has contracted with Cytovance Biologics of Oklahoma City to develop a manufacturing platform for the drug.
In addition, the firm has welcomed its newest board member, Ensysce Biosciences CEO Lynn Kirkpatrick, to help guide it through the Food and Drug Administration approval process.
“We are excited to announce our partnership with Cytovance to develop the manufacturing platform for our PTH-CBD treatment,” BioMD President Paul Mlakar said in a news release. “Their expertise will play a key role in accelerating the development of this compound that will hopefully improve the lives of the millions of individuals who suffer from osteoporosis.”
The partnership will enable BioMD to conduct Phase 1 studies of the drug, which company officials say provides five times the efficacy of available treatments with fewer side effects.
The National Osteoporosis Foundation estimates that 55 percent of Americans over the age of 50 have osteoporosis, with the cost to treat osteoporosis-related fractures expected to exceed $25 billion annually by 2025.
On the Board
The announcement comes as BioMD welcomes Kirkpatrick to its board. Mlakar said BioMD’s rapid progress over the last two years made it necessary to bring aboard someone with experience in taking a drug company through the FDA approval process.
Kirkpatrick, with more than 30 years of experience in cancer drug discovery and development, was the right fit, he said.
Fayetteville Chamber Earns Accreditation
Officials with the Fayetteville Chamber of Commerce announced Tuesday the organization has been accredited with 3 Stars by the United States Chamber of Commerce.
The Fayetteville Chamber was among a group of six local chambers and one state chamber to be awarded accreditation this year for “sound policies, effective organizational procedures and positive impact on their communities.”
The accreditation puts the Fayetteville Chamber in the top three percent of Chambers in the United States. Of the country’s 6,936 Chambers organizations, only 223 are accredited.
According to a news release, a chamber must demonstrate quality programs, clear organizational procedures, and effective communications by meeting minimum standards in its operations and programs, including areas of governance, government affairs, and technology.
Local and regional chambers are rated accredited, or accredited with 3 Stars, 4 Stars or 5 Stars.