GAITHERSBURG, Md., Feb. 10, 2015 /PRNewswire/ -- Panacea Pharmaceuticals, Inc. and Accelovance Inc. today announced the establishment of a clinical development services agreement to develop and advance Panacea's oncology immunotherapy pipeline. Through this agreement, Accelovance will support Panacea's clinical development strategies by offering scientific/medical and regulatory expertise, in addition to providing Contract Research Organization (CRO) support through Project Management, Clinical Monitoring, Data Management, Biostatistics, and Safety services for Panacea's clinical trials. The Panacea and Accelovance partnership will bring together highly complementary capabilities to advance and expedite Panacea's drug development and clinical advancement.
Under the agreement, Panacea will maintain stringent oversight and quality standards relating to patient safety and regulatory compliance, with Accelovance assisting with the development and implementation of clinical strategies. Panacea will rely on Accelovance's knowledge in the areas of vaccines, oncology, and clinical management. Providing advanced insight into Panacea's development pipeline will enable both organizations to enhance operational planning, consistency, and execution.
"We are extremely excited to enter into this partnership, as Oncology immunotherapeutic development is vital for the future of patient treatment. We are confident about our preclinical data in animal models and are ready for the next step in our company's development. With Accelovance we have found the best team to support our clinical development needs, which will continue to drive our oncology immunotherapy pipeline forward," commented Hossein Ghanbari, Ph.D., Panacea's Chief Executive Officer.
Panacea Pharmaceuticals, Inc. was founded in 1999 to discover, develop, and commercialize novel therapeutic and diagnostic products for oncology and diseases of the central nervous system. Since its inception, the Company's primary approach to cancer treatment has been immunotherapy and development of companion diagnostics for comprehensive patient management. The Company's lead drug product candidate is a nanoparticle-based therapeutic cancer vaccine that targets a novel patented tumor marker, human aspartyl (asparaginyl) beta-hydroxylase (HAAH). The company relies on a close collaboration with Brown University/Rhode Island Hospital in Providence, Rhode Island where teams of researchers are continuing advances on the Company's core technologies. For more information, visit the company's Web site at www.panaceapharma.com.
Accelovance, Inc., headquartered in Rockville, MD, is an Industry award-winning Contract Research Organization (CRO) focused primarily in Oncology, Vaccines, and General Medicine. As a clinical services provider to the pharmaceutical and biotechnology industries, Accelovance offers comprehensive clinical development services including management and implementation of Phase I-IV clinical trials and a Clinical Call Center utilized for recruitment, post-marketing surveillance, and long-term survival follow-up. For more information, visit the company's Web site at www.accelovance.com.
Steven Fuller, Ph.D., COO
Hossein Ghanbari, Ph.D., CEO
SOURCE Panacea Pharmaceuticals, Inc.