inVentiv Health Extends Partnership Agreement with Swedish Firm NeuroVive Pharmaceutical AB
Mid-Size Pharmaceutical Companies With Promising Products Turn to inVentiv Health as a Strategic Partner for Expert Global Commercialization Services
BURLINGTON, Mass. – January 29, 2014 – inVentiv Health, offering best-in-class clinical, commercial and consulting services, announced today the extension of its partnership with NeuroVive Pharmaceutical AB, a publicly-traded Swedish biotech firm specializing in drugs that treat acute cardiovascular and neurological conditions.
inVentiv Health works with pharmaceutical and biotechnology firms to help define innovative alternatives to traditional development and commercialization models. inVentiv offers mid-size pharmaceutical and biopharmaceutical companies an expansive set of services that run from early-stage clinical development to full global commercialization. The breadth of inVentiv Health’s services is unique in the industry and includes comprehensive drug development, risk management, market access and reimbursement, launch, marketing communications, payer relations and patient outcomes.
NeuroVive, with a promising portfolio of mitochondrial drugs in development to treat acute cardiovascular and neurological conditions, has been evaluating various collaborations with large pharmaceutical companies and contract research organizations to reduce risk and increase cost efficiencies. They are currently in the planning stage for commercialization of their lead product, CicloMulsion®, now in a Phase III study to determine the drug’s effectiveness in reducing cardiac damage following stenting in heart attack patients.
NeuroVive is looking for a partner with an alternative business model that can commercialize CicloMulsion® and be leveraged to scale for future products. By working with inVentiv, mid-size pharmaceutical companies maintain more control and value with the ability to move faster to market.
"We're big enough to step in and provide NeuroVive with virtually any service they require to develop and commercialize their compound, and we’re flexible enough to align with whatever they need to achieve their objectives,” said Dan Feldman, President of inVentiv Health Europe. “Pharmaceutical companies face a far more challenging market environment than ever before. Today’s market requires innovative strategic partnerships. inVentiv Health was created to provide this new model for the new marketplace." NeuroVive already is accessing inVentiv services and recently completed a one-year regulatory consulting project with ParagonRx, inVentiv’s risk mitigation service. inVentiv will next be providing market assessment services through its consulting arm, Campbell Alliance. Campbell, a leading health care consulting firm, helps companies sell more effectively in an environment increasingly dominated by third-party payers.
NeuroVive and inVentiv also are discussing a broader expansion of the partnership to include future development and commercialization services for CicloMulsion®.
”We are very pleased to extend the collaboration with inVentiv Health, an important step in preparing the market for launch of CicloMulsion® in Europe and, later, in the United States,” said Mikael Brönnegård, CEO of NeuroVive Pharmaceutical AB. “inVentiv Health´s commercial services will provide a valuable platform for optimal market penetration at later stages and when approaching the launch and marketing of the product.”
ABOUT INVENTIV HEALTH
Our broad range of services and our global scale, represented by approximately 12,000 employees supporting clients in more than 70 countries, allow us to serve as a critical strategic partner for pharmaceutical, biotechnology, medical device and diagnostics, and health care companies in their dynamic and rapidly changing regulatory and commercial environments. We serve more than 550 client organizations, including all 20 of the largest global pharmaceutical companies. For more information, visit http://www.inVentivHealth.com.
ABOUT NEUROVIVE PHARMACEUTICALS AB
NeuroVive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. These medical conditions are characterized by a pressing medical need and have no approved pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion® (heart attack) and NeuroSTAT® (traumatic brain injury) are currently being evaluated in phase III and phase II studies, respectively. NeuroVive’s research programs also include products for the treatment of anti-viral indications (Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for cellular protection and treating mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
Media and investor relations questions to:
Ingmar Rentzhog, Laika Consulting, Tel: +46 (0)46 275 6221 or firstname.lastname@example.org
Please also use the above contact if you wish to arrange an interview with NeuroVive’s CEO, Mikael Brönnegård.
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 our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors 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 customer project delays and cancellations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of the consummation of our acquisition of Catalina Health Resource, LLC and any future acquisitions; the impact of any change in our current credit ratings and the ratings of our debt securities on our relationships with customers, vendors and other third parties; the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact on pharmaceutical manufacturers, including pricing pressures, from health care 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, including through outsourced service providers; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and achieve the resulting synergies; 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, including the impact of the final HIPAA Privacy Rule on the willingness of pharmaceutical manufacturers to sponsor patient adherence programs; our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the health care and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.