NEC streamlines AI drug development with subsidiary reshuffle
pharmafile | March 31, 2023 | News story | Medical Communications |
Japan-based NEC Corporation has announced that it is realigning its subsidiaries in order to streamline its AI drug development services. All will continue to work with partners in order to move forward with preclinical and clinical development in the infectious diseases and oncology fields.
In 2019, NEC acquired Norway-based NEC OncoImmunity (NOI) in a bid to expand the application of its AI-powered personalised treatment technologies. Today, NEC and NOI announced that NOI will be realigned as a subsidiary of NEC Bio B.V. (NB) ‒ a newly established, wholly owned subsidiary of NEC based in the Netherlands.
Today it was also revealed that NEC has established NEC Bio Therapeutics (NBT) ‒ another subsidiary of NB ‒ in Germany.
Mr Takayuki Morita, CEO of NEC, said: “We believe this is a key strategic step for NEC to continue its growth in the biopharma space. Establishment of this organisational structure will allow us to concentrate on the execution of strategies for growth in the drug development business and reinforces NEC’s commitment to Healthcare and Life Science, which is positioned to become one of the next pillars of growth for NEC.”
Mr Akira Kitamura, CEO, NEC Bio BV, commented: “NEC Bio’s mission is to bring novel therapies to patients across the globe, to improve their quality of life and health outcomes. I am confident that with NOI’s pioneering research, along with the strong clinical expertise of NBT, we can deliver on that mission. NEC Bio’s success will be a strong growth driver for NEC’s Healthcare and Life Science business.”
NEC states that the new structure will drive long-term growth, streamlining all AI, drug research and development activities. NOI will continue with research while NBT will lead clinical development and strategy of the assets in the company’s pipeline.
Dr Richard Stratford, CEO of NEC OncoImmunity, said: “This new organisation is vital for further growth in the drug development space. NEC OncoImmunity will continue its cutting-edge research and development activities for world class AI technology to bring novel treatments to patients across the globe in the fields of oncology and infectious disease.”
Dr Heinz Lubenau, CEO of NEC Bio Therapeutics, said: “It has been very exciting to be part of the NEC Group team. As a next step, I am looking forward to focusing on clinical strategy and development, as well as the planning and execution of clinical trials in oncology.”
James Spargo
