PRINCETON, N.J., Jan. 20, 2015 /PRNewswire/ -- Covance Inc. (NYSE: CVD), the world's most comprehensive drug development company, today announced the introduction of Covance Early Phase Development Solutions, a multi-disciplined approach to early drug development that provides unmatched expertise, partnership and continuity to generate greater value in asset development and achieve accelerated delivery timelines.
Covance Early Phase Development Solutions provides sponsors access to a molecule solution team made up of experts from nonclinical, clinical and regulatory disciplines who are highly experienced in early drug discovery and development. With a focus on the sponsor's unique target product profile, this dedicated team provides the ongoing continuity essential for faster and more successful early drug development. The unique team insight ensures strategic program design that allows for clear decision making and value addition to the molecule from nonclinical through to first-in-human ready, Phase II ready, proof-of-concept and full-development ready. Further, the operational efficiency of the dedicated team enables Covance to ensure achievement of accelerated program timelines.
"Our market research showed that the two greatest challenges our biopharma clients face today are continuity of a drug development program – both scientific and operational – and the need for stronger outsourcing partnerships," said Steve Street, PhD, Vice President & Global General Manager, Covance Early Development. "We created Early Phase Development Solutions to help our clients overcome those challenges – something that Covance is uniquely positioned to do given the depth and breadth of our services and expertise from the CRO industry as well as global pharma."
Covance's Early Phase Development Solutions molecule teams stay with a client's program through the development journey, minimizing cumbersome hand-offs and delivering guidance that leverages Covance's experience and insight at every step. This dedication and focus makes it possible for Covance to achieve accelerated operational timelines, and Covance will guarantee such achievements for initial clients signing on to the Early Phase Development Solutions strategy by offering a partial credit to the sponsor if certain agreed upon timelines are not achieved. The same team that delivers the first-in-human ready molecule is available to partner with the sponsor as the program advances through Phase I and Phase II trials to proof-of-concept and full-development ready.
"With Early Phase Development Solutions, our biopharma clients don't have to choose between comprehensive capabilities and the simplicity of a single point of contact," said Deborah Keller, EVP and Group President, Covance R&D Laboratories. "Covance is the only drug development firm with the scientific expertise, experience and operational infrastructure to ensure continuity throughout a molecule's early development."
"With Covance Early Phase Development Solutions, sponsors have access to an expert team that understands their unique molecule, their unique challenges and their unique objectives," said Herman Scholtz, MD, Vice President and General Manager, Covance Early Clinical Services. "We can help ensure scientific and operational continuity across multiple milestones. That's the benefit of working with a partner who can provide the whole-picture perspective – we make sure your program strategy is the right one to achieve your unique long-term goals."
About Covance Inc.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $2.5 billion and more than 12,800 employees located in over 60 countries. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at www.covance.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, factors described in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
SOURCE Covance Inc.