The partnership between Cancer Genetics Inc (NASDAQ:CGIX) and the Bio Analytical Research Corporation (BARC) is now official as the duo strives to offer biotech and pharmaceutical companies’ access to BARC’s network. The two will put their efforts together to accelerate marketing, selling and delivery of contracts. This will in return build on the demand for more validated biomarker and companion strategies.
There is a lot for consumers to reap from the partnership whose focus is on the $5.4 billion expected to be spent by biotech and pharmaceutical companies. Michel Abiteboul, CEO of BARC, says that two have common goals of providing patients, physicians and pharmaceutical companies with the best healthcare service. Hence the combined efforts are of the essence to support this noble cause. The acceleration of customer’s drug development and the incorporation of additional biomarker will enhance the decision-making process.
The role of the partnership
The field of oncology can be complicated especially when it comes to making decisions within a competitive environment. However, the partnership’s whose primary focus is to meet the most demanding standards in personalized medicine worldwide will be of significant enhancement once it falls into place. Some of the enormous needs that it will be seeking to settle include the integration of efficient and comprehensive testing solutions for both biotech and pharmaceutical companies.
Panna Sharma, CEO of Cancer Genetics, confirms that oncology trials, which are becoming global and increasing aggregate demand for the provision of integrated access to both US and European markets.
The partnership will also provide access to combined expertise on a global basis while at the same time address the increased pressure regarding turn-around time of core central laboratory analysis, project and data management as well as sample logistics. Apparently, Oncology testing services are essential to CGI’s business model.
BARC has a global network
The Bio Analytical Research Corporation supports a global network of 7 clinical labs all are in favor of the pharmaceutical and biotechnology industry. They are also into the development and approval of new drugs. It is part of Cerba HealthCare, a European medical leader that boosts a huge workforce of 350 clinical labs and 4,200 staff members. The company also has roots in America Europe, South Africa, and Asia Pacific.
Meanwhile, its combination of efforts with CGI will put together expertise that will provide critical insights into the oncology drug development and clinical trial process.