AMSTERDAM–(BUSINESS WIRE)–Nov 15, 2022–
Today, Avanzanite Bioscience BV (“Avanzanite” or the “Company”) officially launches its business to commercial stage, seeking to expand patient access to rare disease medicines in Europe while unlocking revenue and growth potential. growth for emerging research-based biopharmaceutical creators. Avanzanite, a fully licensed drug distributor, partners with these biopharmaceutical collaborators through flexible, tailored licensing and distribution partnerships across Europe. The company’s new business model enables global commercialization of promising drugs and addresses unsustainable inequalities in access to innovative orphan drugs across Europe.
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CEO and Founder of Avanzanite, Adam Andrzej Plich (Photo: Business Wire)
Avanzanite was created to address a critical market need in the European orphan drug landscape due to the complexity and cost of streamlining business operations in over 30 countries given a limited number of patients and an increasingly difficult market access environment. In fact, most European orphan drug launches – some experts claim up to 80% – fail to meet their commercial and revenue targets and fail to reach the patients who need them. The result of this unique market dynamic leaves emerging biopharma companies unmotivated or ill-equipped to establish European operations or enter certain countries. As a result, an increasing number of biopharmaceutical companies choose not to launch their new orphan drugs in Europe or leave the market altogether. These dynamics are particularly damaging for emerging biopharmaceutical originators that drive global pharmaceutical innovation, especially for rare diseases. Ultimately, it is patients who pay the price by missing out on promising therapies.
Avanzanite Founder and CEO, Adam Plich, said, “We provide a market-driven solution to the problem of access to orphan drugs in Europe.”
“Our inspiration and initial validation of our unique business model stems from our collaboration and exclusive licensing agreement with SIFI SpA (“SIFI”), a leading international ophthalmic company headquartered in Italy.” Mr. Plich continued, “SIFI has partnered with Avanzanite to commercialize and distribute its ultra-orphan investigational drug for the treatment of Acanthamoeba (AK) keratitis – a devastating and highly resistant eye infection that accounts for 50% of cases of blindness among contact lens wearers – across 26 countries in the European Economic Area and Switzerland. After more than 15 years of research and development efforts, the European Medicines Agency (“EMA”) is currently reviewing the product for marketing authorisation.
“While evaluating commercialization options for our orphan drug in several European territories,” said Fabrizio Chines, President and CEO of SIFI. “Avanzanite has convincingly demonstrated why it would be best positioned to market and, in fact, provide the broadest market access through its unique business model.” Mr. Chines continued, “Mr. Plich and his team have demonstrated impressive experience in managing the complexity of product launches in the fragmented European market, particularly in relation to pricing and reimbursement, l engagement of physicians and technical operations.
Mr. Plich has a proven track record of successful product launches in Europe. Most recently, he founded and led a boutique consulting firm supporting US and European biopharmaceutical companies on corporate strategy and product launch. Previously, he served as Vice President at Teva Pharmaceuticals, where he led all pricing and market access activities in the European market. Anant Murthy, Co-Founder and Board Advisor, also brings a proven track record of successful orphan drug launches and is currently Managing Director EMEA at Argenx. Previously, Murthy was Vice President at Alnylam, where he led pricing and market access for EMEA and Canada, and was Managing Director of European mid-markets and Canada. Additionally, Avanzanite benefits from the deep expertise of its advisory board: Dawn Sherman, CEO of LabConnect; Daniel A. de Boer, CEO of ProQR; and Leopoldo Zambeletti, independent advisor in corporate finance in the health sector. The company has also established essential infrastructure and hired key leaders in the areas of marketing and technical operations.
Avazanite is advancing discussions with several biopharmaceutical companies looking to enter the European market to expand the breadth of its portfolio. Given the high number of investigational drugs in development for orphan diseases, Avanzanite sees a significant opportunity to expand patient access and optimize value creation for originators. Avanzanite sees its near-term growth opportunity in late-stage or ultra-approved orphan drugs or other neglected orphan drugs. Mr. Plich concluded: “We have cracked the code to decipher this delicate landscape, and now, with our initial strategic partnership with SIFI, we are ready to take our transformation model to the next level by bringing new medicines to patients affected. of rare diseases. .”
ABOUT AVanzanite BIOSCIENCE: Founded in 2021 by biopharma executives Adam Plich and Anant Murthy, Avanzanite is on a mission to redefine the commercialization of orphan drugs to improve patient access across Europe and beyond. Derived from the word “Tanzanite” – one of the rarest and most underrated gemstones on earth – Avanzanite was formed to capitalize on two main purposes, one economic and the other humanitarian. The business objective is to offer an end-to-end commercialization and distribution partnership with research-based biopharmaceutical originators to unlock the full value of their orphan drugs in European markets; this is the unique expertise and core competence of the Avanzanite team through its decades of operational experience in sailing in this field. Equally important, the Society’s humanitarian purpose stems from our commitment to enabling access to new medicines for patients who suffer from orphan diseases, regardless of where they live in Europe. Avanzanite is fully licensed to distribute drugs throughout the European Economic Area.
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CONTACT: Avazanite Bioscience B.V.
+31 20 301 21 13
KEYWORD: NETHERLANDS EUROPE
INDUSTRY KEYWORD: SCIENCE OTHER PHILANTHROPY BIOTECHNOLOGY PHARMACEUTICAL RESEARCH HEALTH PHILANTHROPY CLINICAL TRIALS
SOURCE: Avanzanite Bioscience
Copyright BusinessWire 2022.
PUBLISHED: 11/15/2022 06:00 / DISK: 11/15/2022 06:02
Copyright BusinessWire 2022.