Covalent scores deal from new biotech firm

By Kirsty Barnes

- Last updated on GMT

Related tags: Myocardial infarction

Covalent Group has signed a new contract worth $2.3 m (€1.9 m) to
conduct a global Phase 2 clinical trial of a new antithrombotic
agent in the US, Europe, and South America.

A company spokesperson told www.Outsourcing-Pharma.com​ that the sponsor of the trial is a privately owned US biotechnology company and a new client of Covalent, however no further details were disclosed.

The Phase 2 trial, expected to begin immediately, will assess the efficacy and safety of the new antithrombotic agent in patients at risk of cardiovascular disease and is expected to last 1.5-2 years.

Over 13 million people in the US suffer from thrombotic diseases, including myocardial infarction, stroke, peripheral arterial occlusive disease and pulmonary embolism, each year.

Each year thrombotic diseases cause over 1 million deaths and a health care cost of over $100 bn.

Anticoagulants, a market worth over $6 bn per year, are the first line of therapy, however, the use of anticoagulants is also associated with a high risk of serious or dose limiting hemorrhage, and in the case of heparin, heparin-induced-thrombocytopenia and thrombosis syndrome.

Thus the development of a new antithrombotic agent with a lower risk of hemorrhage is highly sought after and may have blockbuster potential.

>Covalent,​ who has already received an upfront payment, will provide services including consulting on trial design and protocol development, project and study site management, field operations, data management, biostatistical support, and medical writing.

"If this trial is successful, it is anticipated that additional clinical research trials will be conducted by the sponsor and that Covalent will be well positioned to participate in this potentially large development program," Kenneth Borow, Covalent Group's president and CEO said.

In addition to the Phase 2 contract, Covalent also announced today that it has signed several other new contracts to provide services in the areas of cardiovascular disease, nephrology, vaccines, and ophthalmology, worth a total of $1 m.

The contracts are for consulting services as well as changes-of-scope for existing business and are expected to last 12 months.

Related topics: Clinical Development, Phase I-II

Related news

Related products

show more

How clinical trial software can optimize trials

How clinical trial software can optimize trials

Formedix | 20-Jun-2022 | Technical / White Paper

This article explains the different types of clinical trial software available, and how it can be used to optimize the end to end clinical trials design...

Strategic Approach to Immunogenicity Assessment

Strategic Approach to Immunogenicity Assessment

Altasciences | 17-May-2022 | Technical / White Paper

In this issue of The Altascientist we provide a detailed overview on the different goals and challenges that are presented by the validation of immunogenicity...

Governing and Maintaining Clinical Data Standards

Governing and Maintaining Clinical Data Standards

Veeva | 10-May-2022 | Technical / White Paper

Investing in data standards plays a huge role in improving the quality of clinical studies. But often, people don’t use the standards correctly, there...

What the Best Clinical Study Build Pros Do

What the Best Clinical Study Build Pros Do

Formedix | 09-May-2022 | Technical / White Paper

Getting your clinical study designed and built ready for data collection takes A LOT of work and expertise… you've got to do all your CRF designs;...

Related suppliers

Follow us

Products

View more

Webinars