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News Breaks
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October 27, 2009
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| 17:10 EDT |  | PPDI |
| theflyonthewall.com: | PPD to invest $100M in Celtic Therapeutics | | PPD announced it has signed an agreement to invest $100M in Celtic Therapeutics Holdings L.P., an investment partnership organized for the purpose of identifying, acquiring and investing in a diversified portfolio of 10 to 15 novel therapeutic product candidates. Celtic Therapeutics will focus on mid-stage drug development candidates that have progressed through human proof-of-concept studies and are targeted to address unmet medical needs, seeking to advance development of these candidates to the next key product milestone, usually the beginning or end of Phase III. This investment in Celtic Therapeutics is intended to set the stage for a strategic alliance between Celtic Therapeutics and PPD. Both organizations are committed to forging a new framework for timely, cost-efficient drug development. As a result, PPD believes these efficiencies will lead to higher quality data and overall markedly reduced timelines. The goal of the alliance is to bring the best products to market more quickly to meet unmet needs of patients. PPD believes it will benefit Celtic Therapeutics' mid-to-late stage pipeline across the board. :theflyonthewall.com |
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