BiologicsMD, Inc. Awards Manufacturing Contract to Cytovance Biologics Inc. to Expand Development of Breakthrough Osteoporosis Medication
Published: Jul 10, 2012
BiologicsMD is developing a new prescription osteoporosis medication called PTH-CBD™, which promises five times the efficacy of available bisphosphonate treatments with fewer side effects. According to the National Osteoporosis Foundation, 55% of Americans over the age of 50 have osteoporosis. Additionally, the foundation estimates that the cost to treat osteoporosis related fractures will exceed $25 billion annually by 2025.
“We are excited to announce our partnership with Cytovance to develop the manufacturing platform for our PTH-CBD treatment. 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”, said Paul Mlakar, Jr., President, BiologicsMD.
“Cytovance is excited that BiologicsMD has chosen us to support this innovative treatment for osteoporosis,” said Darren Head, President and Chief Executive Officer of Cytovance Biologics. “Our experienced staff and state-of-the-art facilities are prepared to deliver the highest quality of manufacturing services for successful completion of this clinical milestone for the PTH-CBD™ program.”
BiologicsMD, Inc. is a medical development start-up company that focuses on transforming academic discoveries into commercially viable medications. The company was founded in 2010 and won more than $600,000 in cash, prizes, and investments in six major entrepreneurial business plan competitions. To date, the company has both raised private equity and has been awarded a $2.3 million research contract from the Department of Defense. For more information on BiologicsMD, Inc. please visit www.BiologicsMD.com.
Cytovance Biologics is a biopharmaceutical contract manufacturing company specializing in the production of therapeutic proteins and antibodies from both mammalian cell culture and microbial fermentation. In addition to its CGMP manufacturing services, the company offers process development, CGMP cell banking and support services from its Oklahoma City, Oklahoma facilities. The company’s approach couples considerable client-side experience with the necessary technical and operational expertise. For more information on Cytovance, visit www.Cytovance.com.