CRO Novotech springboards into US
Tuesday, 15 June, 2004
Australian CRO Novotech is setting up operations in the US to take advantage of the clinical trials opportunities offered there.
"There is a natural ceiling in Australia for the size of clinical trials, due to our [small] population. We're expanding offshore so that we can do larger trials -- primarily in the US," said CEO Alek Safarian at last week's BIO 2004 conference at San Francisco.
While the company will be competing with other US CROs for clinical trials, Safarian said he believed Novotech would have an advantage in being able to leverage its Australian experience and access.
In the last three years, Novotech has worked primarily with US-based biotech companies and pharma companies, including Angiogenix and OSI Pharmaceuticals, as well as UK-based SkyePharma.
Safarian said Novotech would have its US-based service on the ground by the end of this year. "We already have business development here, but we need operations in the US," he said.
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