The Biotech Market Grows as Demand for New Therapeutics Increases

NEW YORK, February 6, 2017 /PRNewswire/ --

According to Global Market Insights, Inc. the biotechnology market size was valued at over USD 330.3 billion in 2015 and will exceed USD 775.2 billion with 9.9% CAGR from 2016 to 2024. A major reason for the projected growth this sector is that chronic diseases have increased the demand for innovations similar to DNA sequencing, microassays and recombinant DNA technologies to develop therapeutic solutions. Government support for R&D has helped development of products and vaccines for such chronic diseases. The report indicates that the U.S. biotechnology market size held dominant position in terms of industry revenue share followed by Europe with this trend likely to continue throughout the forecast period. Actinium Pharmaceuticals, Inc. (NYSE: ATNM), Pulmatrix Inc. (NASDAQ: PULM), Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH), Amarin Corporation (NASDAQ: AMRN), Amicus Therapeutics Inc. (NASDAQ: FOLD)

Cancer continues to be a major area of concern. The World Health Organization indicates that the increasing use of tobacco and alcohol consumption around the world is expected to increase the number of new cancer cases by about 70% over the next two decades. Cancer is still one of leading causes of death worldwide and demand for cancer treatments keeps growing. The need for improving cancer therapies is constantly pushing biotechnology companies to invest in innovation and clinical trials to find new cancer therapeutics. According to a recent report from Mordor Intelligence, the global Cancer therapy market is estimated to grow at 17.6% CAGR to reach $52.2 billion by 2021. 

Actinium Pharmaceuticals, Inc. (NYSE: ATNM), a biopharmaceutical company developing innovative targeted therapies for cancers lacking effective treatment options, recently announced that Dr. Mark Berger has been appointed Chief Medical Officer effective today. Dr. Berger joins Actinium with significant drug development expertise that includes the planning and execution of clinical trials that led to the FDA approval of Mylotarg for acute myeloid leukemia (AML) while at Wyeth Research (now Pfizer), and Tykerb for breast cancer while at GlaxoSmithKline. He also has experience in patient care and lab-based cancer research. Dr. Berger will report to Sandesh Seth, Actinium's Executive Chairman.

"Dr. Berger has a stellar track record in hematology/oncology research and drug development that makes him perfectly suited for the position of Chief Medical Officer at Actinium," said Sandesh Seth. "Dr. Berger led the development of Mylotarg, which like Actimab-A, is a CD33 targeting agent. Mylotarg remains the only drug approved in AML in the last several decades, and Dr. Berger was integral to Mylotarg's approval as highlighted by his presentation to ODAC. This along with Mark's many other accomplishments in drug development, medical training and research experience gives us great confidence in his ability to build a robust clinical development organization to execute on the clinical development of Iomab-B, Actimab-A and our future clinical programs." 

"I am impressed with the potential for Actinium's radioimmunotherapy technology," Dr. Berger said. "The data to date on Iomab-B and Actimab-A are very compelling and suggest that radioimmunotherapy has the potential to be safe and effective particularly in difficult clinical indications such as bone marrow transplant conditioning in patients with AML, or in the treatment of older patients with AML. I am excited to join the Actinium team and look forward to executing on a clinical development strategy that will bring these therapies to approval."

Clinical stage biopharmaceutical company, Pulmatrix Inc. (NASDAQ: PULM) is currently advancing a pipeline of product candidates to treat serious chronic obstructive pulmonary diseases and asthma. The company's anti-fungal product candidate for cystic fibrosis is the most advanced program in its pipeline of treatments for rare, orphan disease. Its PUR1500 is an iSPERSE (inhaled small particles easily respirable and emitted) formulation that combines a kinase inhibitor with established anti-angiogenesis activity for the treatment of idiopathic pulmonary fibrosis and its PUR0200 is also an iSPERSE formulation that's a long-acting muscarinic antagonist bronchodilator.

Biopharmaceutical company focused on the global immunology market, Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) has selected Worldwide Clinical Trials as its Clinical Research Organization for the AURORA Phase 3 study of volcosporin for the treatment of active lupus nephritis. Lupus nephritis is inflammation of the kidney that is caused by systemic lupus erythematous. "Selecting a CRO for AURORA is a key milestone for Aurinia following our successful end-of-Phase 2 meeting with the U.S. Food & Drug Administration Division of Pulmonary, Allergy and Rheumatology Products. We are thrilled to partner with Worldwide to support the AURORA Phase 3 clinical trial," said Charles Rowland, Chief Executive Officer of Aurinia. "We are rapidly moving forward with our plans to bring this important therapy to market for patients living with this devastating disease, and Worldwide's deep expertise and capabilities in managing pivotal trials will be a tremendous asset to us. We are on track to commence the AURORA trial in the second quarter of 2017, and we expect the results from this study will support a New Drug Application submission to the FDA."

Amarin Corporation (NASDAQ: AMRN) is a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health. Amarin's product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. Vascepa® (icosapent ethyl) is Amarin's first FDA approved product that is used together with a low-fat and low-cholesterol diet to reduce triglycerides in adults with severely high triglycerides.

Amicus Therapeutics Inc. (NASDAQ: FOLD) is a global biotechnology company of advanced therapies that treats a range of devastating rare and orphan diseases. The company's lead product candidate, migalastat, is a personalized medicine in late-stage development to treat individuals with Fabry disease on the basis of their genetic diagnosis. SD-101, a product candidate in late-stage development, is a potential first-to-market therapy for the rare genetic connective tissue disorder Epidermolysis Bullosa. The company is leveraging its biologics and Chaperone-Advanced Replacement Therapy platform technologies to develop novel enzyme replacement therapy products for Fabry disease, Pompe disease, and other Lysosomal Storage Disorders. Its leading biologics program is ATB200/AT2221, a uniquely engineered Pompe disease ERT that will be administered in combination with a pharmacological chaperone.

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