Abraxis BioScience will be solely dedicated to building its Abraxane franchise on a global basis, advancing an extensive Phase III clinical program, and leveraging its proprietary nab technology platform.
Abraxis Health has been created to focus on generating biological systems and advancing personalized medicine through strategic alliances and internal development. The company believes that the era of predictive, personalized evidence-based medicine has emerged. Therefore its strategic focus will be to identify compounds with specific activity linked to specific biological markers related to specific disease states.
In connection with the spin-off, Abraxis Health will obtain the assets and liabilities constituting the drug discovery, pilot manufacturing and development operations currently being conducted through Abraxis BioScience.
Soon-Shiong, who will become chairman and CEO of the newly established company, said: Unlike Abraxis BioScience, Abraxis Health’s mission is to pursue early stage development of compounds utilizing new technologies with new methodologies. The company’s R&D program will be led by a team of discovery scientists, medicinal chemists and formulation scientists who will devote their efforts to advancing molecules from the lab to the clinic.