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news.Ten major biopharmaceutical companies have joined forces to form a non-profit organization, TransCelerate BioPharma (TransCelerate) in Philadelphia, US to speed up the development of new medicines.
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The ten founding companies include Abbott, AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Pfizer, Genentech and Sanofi.
TransCelerate will work to identify and solve common drug development challenges with the aim of improving the clinical studies quality and bringing new medicines to patients faster.
All the companies participating in the new entity will combine financial and personnel resources to address issues concerning industry in a collaborative environment.
TransCelerate also seeks member companies to work with specific outcome-oriented objectives and comply with the guidelines established to share information and expertise to take the collaboration forward.
TransCelerate BioPharma acting CEO Garry Neil said, "Our mission at TransCelerate BioPharma is to work together across the global research and development community and share research and solutions that will simplify and accelerate the delivery of exciting new medicines for patients."
TransCelerate members have identified clinical study execution as the initial area of focus and have identified five projects for funding and development.