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- Posted Thursday December 19, 2013
TGen attracts Dallas partner in Translational Drug Development (TD2)
ORIX USA brings investment dollars that will enable TGen's drug-development firm to expand; help grow Arizona's biomedical economy
SCOTTSDALE, Ariz., and DALLAS, Texas - Dec.19, 2013
- ORIX USA Health and Life Sciences has completed an
investment into Translational Drug Development (TD2) through the
purchase of equity from the Translational Genomics Research
Institute (TGen).
TGen will remain a significant minority equity holder in TD2,
which has been a for-profit subsidiary of the non-profit
TGen.
ORIX USA, a Dallas-based diversified financial conglomerate with
nearly $ 5 billion in assets and $30 billion of assets under
management, will provide the capital needed to enable TD2 to expand
its capabilities to assist pharmaceutical companies in the
development of new drugs based on the specific molecular profile of
individual cancer patients.
"The investment from ORIX USA into TD2 speaks to the
value-creation that TGen brings to Arizona, and in this case
specifically to Scottsdale," said Tess Burleson, TGen Chief
Operating Officer and President of TGen Accelerators. "This
transaction showcases TGen's strength in bringing bioscience
investment dollars from out-of-state to Arizona."
Dr. Jeffery Trent, TGen President and Research Director; Dr.
Daniel Von Hoff, TGen Physician In Chief; and former TGen executive
Richard Love, founded TD2 in 2003 to accelerate cancer research and
rare disease drug development for global pharmaceutical and leading
academic institutions.
Under the leadership of President and CEO Dr. Stephen Gately, TD2
has managed and designed hundreds of preclinical and clinical
engagements that have measurably improved the drug discovery
process in one of humans' most complex disease areas, cancer. TD2's
unique approach to patient identification, high throughput
computational chemistry, and advanced genomic and diagnostic data
analysis, gives the company a distinct and sustainable scientific
advantage towards accelerate drug discovery in the fields of
oncology and rare disease.
ORIX USA and TD2 will establish a unique and capital-efficient
drug development model that leverages TD2's broad capabilities and
oncology expertise with ORIX's international financial and
operational resources.
Dr. Gately and existing management will continue to lead the
company at their headquarters on the Mayo Clinic campus in
Scottsdale.
"TD2 is excited to partner with ORIX USA Health and Life Sciences
because of their knowledge and expertise in growing life science
companies," Dr. Gately said. "Working together we will focus on the
rapid development of effective new medicines for patients with
cancer."
John Amos, CEO of ORIX USA Health and Life Sciences said, "ORIX is
excited and privileged to work with the world-class scientists at
TD2 and TGen. I have looked for a TD2-like company that combines
scientific expertise and a focus on capital efficient drug
discovery for the better part of a decade. We are thankful that
TGen and TD2 have selected ORIX as their capital and development
partner for their next phase of growth."
An independent assessment of TD2's economic impact performed by
Pittsburgh-based Tripp Umbach predicted that by 2015 TD2 and its
affiliations would have a total annual economic impact of $239
million, generating 1,080 jobs and producing $6.6 million annually
in direct and indirect tax revenues for the City of
Scottsdale.
Gov. Jan Brewer hailed the TGen-ORIX USA partnership as a key
example of the benefits of supporting Arizona bioscience.
"This partnership shows that we can grow and diversify the Arizona
economy in ways that will pay dividends in expanded jobs and
revenues now, and exponentially in the future," Gov. Brewer
said.
Dr. Trent said the growth and expansion possibilities brought
about by ORIX USA will over the long-term add to TD2's value and
provide great potential for creating clinical benefit.
"There is a high demand for TD2's integrated suite of tools that
inform clinical development plans," Dr. Trent said. "By aligning
with ORIX, we can move more rapidly in expanding our reach, which
has the potential for bringing increased benefit to patients in
need of ground-breaking therapies."
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About TGen
Translational Genomics Research Institute (TGen) is a Phoenix,
Arizona-based non-profit organization dedicated to conducting
groundbreaking research with life changing results. TGen is focused
on helping patients with cancer, neurological disorders and
diabetes, through cutting edge translational research (the process
of rapidly moving research
towards patient benefit). TGen physicians and scientists work to
unravel the genetic components of both common and rare complex
diseases in adults and children. Working with collaborators in the
scientific and medical communities literally worldwide, TGen makes
a substantial contribution to help our patients through efficiency
and effectiveness of the translational process. For more
information, visit: www.tgen.org.
About TD2
Translational Drug Development (TD2) is an oncology development
organization that provides innovative services for oncology-focused
biopharmaceutical companies. Using a dedicated team of
professionals with broad experience and understanding in drug
development, TD2 is uniquely positioned to support improved and
accelerated development of medicines for life-threatening diseases.
TD2 applies rigorous and high-throughput translational preclinical
development, combined with regulatory affairs expertise, to
customize clinical trial design and execution. TD2's suite of
capabilities encourages the timely selection of patient populations
most likely to benefit from a new agent, and the rapid
identification of clinically significant endpoints. TD2 is
committed to reducing the risks and uncertainty inherent in the
drug development process and to the acceleration of patient access
to promising treatments. For more information, visit: www.td2inc.com.
Press Contact:
Steve Yozwiak
TGen Senior Science Writer
602-343-8704
[email protected]