Pharma and Biotech Companies Performing Strategic Activities to Find Drugs for Cancer Treatment
Since past few years, global healthcare is consistently working on cancer treatments. Various common and rare cancer cases are being detected and this disease is killing patients due to unavailability of efficient drugs. To avoid this, companies related to cancer treatment markets are continuously working to come with the drug that can save people. Considering this, the cancer drug market around the world is experiencing positive growth.
Cancer drugs market is predicted to grow in next few years owing to the factors such as:
- rising geriatric population
- availability of targeted drug therapies
- increasing prevalence of cancer
- extensive research and development activities to produce novel drugs for the treatment
- early detection of the disease
- rising awareness about cancer treatments.
- Increasing support from government and healthcare agencies by providing favourable policies framework that includes easy drug R&D, approval, manufacturing and marketing of products processes.
For the advancement of the procedures related to R&D of any drug, finance plays vital role. It also helps the company to expand its portfolio. Last week, AnHeart Therapeutics, Co., Ltd., a clinical stage oncology company, announced that it has entered into agreements to raise approximately US$ 20 million in an over-subscribed Series A+ equity financing round. AnHeart said that proceeds from this financing will be used to advance the global Phase 2 trials of taletrectinib, a potent and highly selective next generation ROS1/NTRK inhibitor.
In the press statement, AnHeart’s CEO, Junyuan (Jerry) Wang, PhD, said, “The financing will permit us to execute on our global development plan for taletrectinib, and help advance this differentiated cancer drug for utilization in a large population of NSCLC patients with ROS1 and NTRK mutations”.
Then Wang added, “In addition, we desire to expand into other oncology adjacencies where we may have a competitive advantage and to deepen our pipeline over time. We value the support of our experienced and esteemed investors to help us execute on our vision”.
On the other side, companies involved in the cancer drug market are performing various inorganic strategies including collaborations and partnerships, mergers and acquisitions, etc. Also, the pharma and biotech companies operating in this market are continuously working on several innovative products. And by performing organic strategies like patent, product approval or product launches, these companies are maintaining the brand on a global platform.
For instance, recently, Innovent Biologics, Inc. jointly announced with Eli Lilly and Company that the National Medical Products Administration (NMPA) of China has accepted the supplemental New Drug Application (sNDA) for TYVYT (sintilimab injection) in combination with Gemzar (gemcitabine) and platinum as first-line therapy in squamous non-small cell lung cancer (squamous NSCLC).
With this announcement, Dr. Li WANG, Senior Vice-President of Lilly China and Head of Lilly China Drug Development and Medical Affairs stated, “Lilly and Innovent are committed to bring new anti-tumor treatments, developed with global standards, to patients in China. TYVYT (sintilimab injection) is the first success of this partnership. After being included in the NRDL for relapsed or refractory classical Hodgkin’s lymphoma, the acceptance of the sNDA for new indication of NSCLC is another important milestone of TYVYT (sintilimab injection) in the field of oncology therapy,”
Observing the current market scenario, experts opine that these activities have not only helped to expand the business but also increased the customer base of the companies.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.