Omega Pharma (Europe), and Sienna Biotec India (API manufacturer), announced a strategic partnership in which Sienna Biotec will take a minority stake in Omega Pharma's United States operations in New York, US
Online PR News – 21-January-2012 – – Omega Pharma will become a provider of choice for Sienna Biotec's development pipeline. Under the agreement Omega Pharma and Siena Biotech will work collaboratively on the development of Sienna Biotec's pipeline of compounds, focused in three key therapeutic areas, including Alzheimer's disease, Huntington's disease and oncology. Financial terms were not disclosed.
"We are delighted to strengthen our existing relationship with Sienna Biotec, which will be a valuable partner as we expand our presence, particularly in the US marketplace," said C. Timotky, chairman and chief executive officer at Omega Pharma. "Siena Biotech's commitment is an important validation of the capabilities and expertise gained via our recent acquisition of the Verona Medicines Research Centre from GlaxoSmithKline."
On July 1, 2010, Omega Pharma announced the acquisition of operations at GlaxoSmithKline's (GSK) Medicine's Research Centre (MRC) in Verona, Italy. The addition of the Verona operations extends Omega Pharma's existing capabilities across the drug development spectrum with expertise in drug discovery, lead optimization, API development and manufacturing, and pre-clinical and clinical drug development. The MRC operation is also known for specific expertise in drug discovery and development in the neurosciences, which complements the needs of Siena Biotech's development pipeline.
"The effective integration of disciplines and technologies, from target discovery to clinical proof of concept studies is essential for the development of new medicines at Sienna Biotec India. Omega Pharma has technologies, processes and skills which are complementary to those of Sienna Biotec and therefore represents the ideal partner for us as we advance our drug candidates through development for a host of devastating neurodegenerative and oncologic diseases with important unmet medical needs. Furthermore, we are delighted to contribute to boost Omega Pharma Verona operations, thus preserving and further increasing research and development activities as well as jobs in the pharmaceutical and biotechnology sector in Italy", commented A.K.Singh, CEO of Sienna Biotec and former R&D Director at the Glaxo MRC.