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A Strategic and Financial Solution for 10 Proof of Principle Trials for Solvay
Situation
An improved discovery engine and unexpected increase in Phase III expenses had created a Phase II bottleneck at Solvay, affecting pending Phase II proof of principle studies on ten different compounds.
Solution
NovaQuest’s predecessor, PharmaBio Development, committed to pay for Quintiles’ professional fees for 10 mutually selected proof of principle programs, up to a maximum of $25 million. In return, NovaQuest will receive milestone payments for each successful study.
Value Added
Solvay was able to accelerate the development of its Phase II products despite budget constraints, and enhance the net present value of its portfolio within current R&D budgets. The company also enhanced its chances of success by gaining access to the therapeutic and drug development expertise of Quintiles, while maintaining strategic control of their assets.
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