Discussing the move, Dr. Paul Reid, CEO of ReceptoPharm, said the objective was to offer a suite of services to emerging biopharmaceutical companies, including pre-production studies, contract manufacturing services, US & EU regulatory support, and quality systems/good manufacturing practice (GMP) certification.
“As a clinical stage company specialising in biologics, we understand and have cleared many of the hurdles that face emerging biotech companies,” said Dr. Reid.
ReceptoPharm specialises in the development of drugs to treat neurological, immunological and viral conditions, and it has already advanced treatments for adreno-myeloneuropathy (AMN), HIV and multiple sclerosis into Phase I and II clinical development. It has built up particular expertise around nicotinic acetylcholine receptors, which have been linked to a number of disease states.
ReceptoPharm’s entry into the CRO space comes at a time when smaller contractors are coming under increasing pressure as their primary client base – small and medium-sized enterprises (SME) – are under increasing financial pressure.
As a result many SMEs are shelving and prioritising early-stage drug development projects, leaving CROs competing for a dwindling number of contracts.
However, ReceptoPharm believes that one factor that differentiates it from many early-stage CROs is that it has established its own GMP production facility.
Rik Deitsch, Nutra Pharma’s chief executive, said the opening of this facility “could not have come at a better time given the current state of the economy and the reduced level of financing available for many of these early-stage companies.”
Establishing and maintaining a qualified drug production facility can represent a significant drain on a small company’s resources, according to ReceptoPharm.
“By offering these services, at a much lower cost as compared to traditional contract research organisations, ReceptoPharm allows these life science firms to immediately continue innovating and developing medical technologies, instead of waiting for the economy to fully recover.”
The company can also prepare and sterile fill pharmaceutical products in its ISO class 5 cleanroom facilities for trials in the US and the EU.