HAVANA, Cuba, Aug 3 (acn) The Cuban Biotechnology and Pharmaceutical Industries Group (BioCubaFarma) and the English Company SG Innovations Ltd. formed the BioFarma Innovations joint venture, “focused on accelerating the development and accessibility in Europe and the British Commonwealth of innovative and leading medicines to world level”.
The new association aims to provide access to BioCubaFarma's portfolio of biopharmaceutical products, which are protected by patents and encompasses all of the pharmaceutical and biotechnology companies established on the Caribbean island, says a note published on the entity's official website.
Based on world-leading science, BioCubaFarma companies have developed a wide range of drugs, with innovative discoveries, to meet medical needs, the text notes.
It adds that amid the current global crisis and the threat to public health, the newly-formed company will expand its distribution networks and increase the accessibility of these products for a greater number of people throughout the planet, including the fight against COVID- 19.
The joint venture will be based in the UK and Ireland, and its chairman will be Lord David Triesman, with more than 40 years of experience working with the National Health Service, as Minister of Innovation, Universities and Skills; Vice President of the Kensington, Chelsea and Westminster Health Authority; as well as Secretary General of the Association of University Teachers (AUT), which includes prominent medical and biochemical university research faculties.
Triesman said in a statement that as the demands in the healthcare industry have never been greater and the need for new medications is more urgent, he is excited about the contribution this new company can make, “certainly transformative now and in the years to come. "
Eduardo Martinez, President of BioCubaFarma, added that in correspondence “with our mission to prioritize public health, we are offering a dynamic and open approach to collaboration with global pharmaceutical companies and public health organizations across Europe and the British Commonwealth, which ranges from licenses to joint development agreements and research.
"We have consolidated a broad portfolio of products and we want to guarantee access to new drugs to help meet unmet demands worldwide," he said.
BioFarma Innovations now joins BioCubaFarma's extensive international presence through joint ventures in China, Spain, Thailand and Singapore.