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Newsletter Μάιος 2010

IQ - INNOVATION QUOTIENT

Biovista Drives Innovation in Global Biotech Industry

Operating from headquarters in Athens, Greece and Charlottesville, Virginia since 1993, Biovista has quickly become a driving force for technological innovation in the fields of biotechnology and drug repositioning around the world.

Formed as a business intelligence company supporting the life sciences sector, Biovista has forged ahead in developing its proprietary Discovery Algorithmics™ platform.  Leveraging this unique technology has allowed the small group to conduct its own research and pre-clinical trials, as well as offer advanced drug repositioning and clinical outcome services. In 2009, the company was awarded the Top Innovator Presentation Award in Healthcare at the New England Venture Summit in Dedham, Massachusetts.

Biovista's repositioning programs leverage the company's technology platform to identify suitable drugs and reposition them in isolation or in combination with other drugs to therapeutic areas that are currently not covered by existing products.  By selecting drugs that already satisfy basic toxicity, ADME and related criteria, Biovista is able to deliver significant value and in dramatically shorter time frames than is normally the case.  Such programs can provide multinational companies and research organisations alike with significant savings and competitive advantages as they seek new ways to expand their drug pipelines or better profile their existing compounds.

The group’s success and value proposition has not gone unnoticed, earning Biovista an impressive list of clients and partners that includes: Millipore, Promega, Wyeth, Qiagen, Biogen Idec, Novo Nordisk, Novus Biosciences, Cempra, the FDA, Harvard University, University of Pennsylvania, UC Davis and University Hospital of the Saarland.  The company has also collaborated on projects within the EU with the likes of Unilever, France Telecom, EBI, IBM, EMBL, Fraunhoffer-IPSI, Universities of Liverpool, Geneva, UPM, Manchester, Innsbruck, Saarland and others.

In January, the group announced an important collaboration with the U.S. Food and Drug Administration (FDA)- a partnership in which Biovista will leverage its technology platform to help analyse, identify, and better understand the way certain drugs can cause harmful side effects.  The FDA’s Office of Clinical Pharmacology, within the Center for Drug Evaluation and Research (CDER), will test the use of Biovista’s Adverse Event Analysis (AEA) technology and work closely with Biovista scientists to carefully study the serious side effects of several drugs or classes of drugs, identified by FDA, to help promote safer use of these medications.  The goal of the collaboration is to explore the possibility of being able to predict which patients may be most likely to experience adverse reactions to these medications so that healthcare providers can better protect their safety.

Biovista’s strong performance is also indicative of the positive market fundamentals and investment prospects in the Greek Life Sciences sector- a sector with high growth potential according to Invest in Greece Agency.  Greece has an exceedingly high reserve of intellectual capital, particularly in the medical arena, with more doctors per capita than almost any other country in the world.  Already established as a regional hub for clinical trials, Greece boasts an extensive network of world-class universities and research organisations that approves approximately 300 protocols each year- all at internationally competitive rates. 

Most importantly, the Greek government has placed renewed emphasis on fostering cutting edge R&D and a comprehensive new national investment incentive scheme is planned for this year.  This is expected to result in a further migration of international biotech firms to Greece and a respective surge in seed capital funding, venture capital funding, and private equity funding.

In this framework, Biovista has built a strong R&D programme into its operations that aims to deliver high value treatments as well as tools and services in support of the life sciences industry.  The company has already submitted over ten patent applications and is currently running efficacy experiments for most of its repositioning programmes.  Biovista continues to grow with its proprietary platform technology ensuring the company’s competitiveness as it continues to partner with the world’s top healthcare, pharmaceutical and biotechnology companies as well as academic and biomedical/biotech research organisations.