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PTSM: Pharmaceutical Technology Sourcing and Management
Covance MarketPlace is designed to enable partnerships between the company';s emerging biotechnology and established pharmaceutical clients.
Covance Inc. has introduced Covance MarketPlace, a solution that enables the company’s emerging biotechnology and established pharmaceutical clients to find and forge partnerships in a secure forum.
Covance MarketPlace connects the portfolios of biotechnology clients with select pharmaceutical partners looking for innovative molecules backed by high-quality and regulatory-compliant data, the company reports.
According to the company, Covance MarketPlace helps biotechnology companies more effectively showcase their molecules to larger pharmaceutical companies as they continue to increase their own in-licensing efforts. With Covance conducting development work for all the molecules in Covance MarketPlace, prospective partners can be confident in the quality of the data, design of the plan and regulatory acceptance, the company reports.
Covance is working with its client base of more than 500 biotechnology companies to place their compounds into Covance MarketPlace. Upon completion, Covance MarketPlace will be activated for select Covance pharmaceutical clients, giving them line-of-sight to molecules early in their development lifecycle, typically at the IND/CTA-enabling, first-in-human or proof-of- concept phase.