PRINCETON, N.J., March 6, 2012 /PRNewswire/ -- PharmaNet/i3, inVentiv Health’s clinical segment, and a leading provider of clinical development services to pharmaceutical, biotechnology, generic drug and medical device companies, announced today that ASLAN Pharmaceuticals has selected PharmaNet/i3 as a Strategic Partner supporting the development of their oncology portfolio in Asia, and conducting Phase I and Phase II clinical trials for two of ASLAN’s compounds.
Dr. Alan Barge, ASLAN’s Chief Medical Officer, stated, “We chose to work with PharmaNet/i3 because of the commitment and passion shown by their team and the creative thinking they brought to our oncology development strategy. ASLAN is keen to build a strong strategic relationship with PharmaNet/i3, a company that shares our focus on quality and efficiency.”
PharmaNet/i3 has been conducting clinical studies for innovative oncology products since 1996 and has an experienced team, including on-staff oncologists, dedicated to the development of cancer treatments. The Company has extensive experience in the development of a variety of cytotoxic chemotherapies, monoclonal antibodies, pathway inhibitors and therapeutic vaccines. More than four hundred local, regional and global oncology clinical trials have been awarded to PharmaNet/i3 in the past five years, including more than a dozen registration programs, seven of which resulted in NDA/MAA approvals.
“Clinical development of oncology therapeutics requires a special understanding of the mechanism of action and the different approaches to cancer therapies,” commented Dalvir Gill, PhD, President, Phase II IV Development, PharmaNet/i3. “ASLAN has a novel and creative approach to personalized medicine and combination therapy. We will work closely with ASLAN to address the unique methodologies needed to evaluate the efficacy and safety of their innovative products and look forward to a long and productive relationship.”
About PharmaNet/i3
PharmaNet/i3, the inVentiv Health clinical segment, is recognized as a leading provider of global drug development services to pharmaceutical, biotechnology, generic drug, and medical device companies; offering therapeutically specialized capabilities for Phase I-IV clinical development, bioanalytical services, and staffing from a single clinical professional to an entire functional team. For intelligent solutions needed to accelerate high quality drug development programs of all sizes around the world, PharmaNet/i3 works for you. For more information, visit www.pharmanet-i3.com.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals is an Asia-enabled pharmaceutical company that develops novel medicines for global markets and is headquartered in Singapore. ASLAN licenses preclinical and early clinical compounds from global pharmaceutical companies, focusing on oncology, respiratory and inflammation diseases, and uses the high quality and efficient development resources available across Asia to progress the drugs through clinical development. For more information, please visit www.aslanpharma.com.
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv’s client roster includes more than 550 pharmaceutical, biotech and life sciences companies. With 13,000 employees in 40 countries, inVentiv rapidly transforms promising ideas into commercial reality. inVentiv Health Inc. is privately owned by inVentiv Group Holdings Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health’s performance to differ materially. Such risks include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of the consummation of any announced acquisitions, and any additional leverage we may incur in connection with the financing thereof, on the ratings of our debt securities; our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our credit facility and to access sufficient capital to fund our operations; the impact of any default by any of our credit providers or swap counterparties; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability accurately forecast insurance claims within our self-insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses, including the acquisitions of i3 Global and PharmaNet Development Group, Inc., into our operations; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; the potential liability associated with bringing new drugs to market, including potential liability from injury to clinical trial participants; and the actual impact of the adoption of certain accounting standards; our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Readers of this press release are referred to documents which may be filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
PharmaNet/i3 Contact Information:
Name: Anne-Marie Hess
Phone: +1 609-951-6842
Email: ahess@pharmanet.com
ASLAN Pharmaceuticals Contact Information:
Name: Sean Wong
Phone: +65 6222 4235
Email: media@aslanpharma.com
SOURCE PharmaNet/i3; ASLAN Pharmaceuticals
