Updated September 15, 2020 12:05:38 AUSTIN, Texas–(BUSINESS WIRE)–(BUSOM)–(NYSE: GLD)–(NASDAQ: GLX)A global leader in medical technology, Precision Medicine Corp. (NASDAQOTH: PMC) today announced that it has reached a strategic agreement with a leading company that offers a unique opportunity to accelerate the delivery of novel therapeutics.
The Precision Medicine Corporation (PMC) collaboration with a private equity firm, Covington & Sidley Austin LLP, will enable PMC to accelerate development of a novel novel compound for the treatment of non-malignant, non-serious diseases including multiple sclerosis, Huntington’s disease, and non-small cell lung cancer.
This is the first time a major pharmaceutical company has partnered with a technology company in developing a novel compound to treat a serious disease.
“We are thrilled to partner with PMC on a groundbreaking and groundbreaking collaboration to accelerate progress in the development of new treatments for non-medical conditions,” said Patrick Farr, CEO of Precision Medicine.
“PMC is one of the world’s largest clinical biotechnology companies and one of our largest employers, and its leadership in diagnostics and advanced diagnostic technology will help us deliver a better future for patients and for society.”
The PMC collaboration will help PMC build its own proprietary drug discovery platform, and this new platform will enable it to rapidly accelerate development and commercialization of novel compounds.
The company will use the new platform to accelerate Phase 3 clinical trials for novel compounds, and the first commercial compounds are expected to be ready for human clinical trials in 2020.
The company has been developing compounds that are engineered to interact with multiple receptors in the body to inhibit the growth of certain cancers.
These compounds have been used to treat patients with a variety of different diseases, including multiple myeloma, leukemia, melanoma, multiple sclerosis and rheumatoid arthritis.PMC and the Covingtons, Sidleys and Harris have been developing a wide range of novel drugs in addition to their own drug discovery pipeline.
PMC’s goal is to deliver clinically useful compounds that will be of interest to patients, doctors, and society for many years to come.
For more information, please visit www.pmc.com.###About PMC: PMM is the world leader in the production and commercial development of therapeutic drugs.
It is one the world`s largest medical technology companies.
PMM has a significant presence in the pharmaceutical and biotech sectors.
PMI is the largest global private company with a strong footprint in health care, healthcare technology, biotechnology, and pharma.
PMP is a Fortune 50 company and has more than 30,000 employees globally.
For information on PMC and PMI, visit www,pmc-usa.com, www,patientcare,www,twitter,facebook,instagram,plus,googleplus,youtube,gplusplus,bbs,plus.com/news/healthcare/news.htm#,twitter.com