BiologicsMD, Inc. Awards Manufacturing Contract to Cytovance Biologics, Inc. to Expand Development of Breakthrough Osteoporosis Medication
FAYETTEVILLE, Ark.– June 6, 2012 – BiologicsMD, a drug development company based in Fayetteville, AR., awarded a manufacturing contract to Cytovance Biologics, Inc. located in Oklahoma City, OK, to continue development of BiologicMD's breakthrough osteoporosis medication, PTH-CBD™. The agreement will lead to the development of the manufacturing platform for PTH-CBD™, a key step in the process that will allow BiologicsMD to conduct Phase I studies.
BiologicsMD is developing a new prescription osteoporosis medication called PTH-CBD™, which promises five times the efficacy of available bisphosphonate treatments with fewer side effects. According to the National Osteoporosis Foundation, 55% of Americans over the age of 50 have osteoporosis. Additionally, the foundation estimates that the cost to treat osteoporosis related fractures will exceed $25 billion annually by 2025.
"We are excited to announce our partnership with Cytovance to develop the manufacturing platform for our PTH-CBD treatment. Their expertise will play a key role in accelerating the development of this compound that will hopefully improve the lives of the millions of individuals who suffer from osteoporosis", said Paul Mlakar, Jr., President, BiologicsMD.
"Cytovance is excited that BiologicsMD has chosen us to support this innovative treatment for osteoporosis," said Darren Head, President and Chief Executive Officer of Cytovance Biologics. "Our experienced staff and state-of-the-art facilities are prepared to deliver the highest quality of manufacturing services for successful completion of this clinical milestone for the PTH-CBD™ program."
Cytovance Biologics is a biopharmaceutical contract manufacturing company specializing in the production of therapeutic proteins and antibodies from both mammalian cell culture and microbial fermentation. In addition to its CGMP manufacturing services, the company offers process development, CGMP cell banking and support services from its Oklahoma City, Oklahoma facilities. The company's approach couples considerable client-side experience with the necessary technical and operational expertise.