LONDON, July 26,
2023 /PRNewswire/ -- Hikma Pharmaceuticals PLC
(Hikma), the multinational pharmaceutical company, announces that
its venture capital arm, Hikma Ventures, has invested in Octave
Bioscience, the developer of a first-of-its-kind platform to
accurately and objectively measure and help manage complex and
high-cost neurodegenerative diseases, starting with multiple
sclerosis (MS).
Founded by William Hagstrom, CEO,
and Melinda Thomas, COO, Octave's
multimodal precision care solution provides comprehensive,
objective, and actionable insights that bring scientific clarity to
the patient's disease over time.
"There is an immense unmet need within the MS space with
outdated diagnostic tools, a lack of technological advancement, and
limited support in addressing neurodegenerative diseases. Octave's
precision care solution is creating a new paradigm, where
physicians and patients have a holistic view of a patient, their
disease activity, and the impact of treatments on their disease
progression," said Lana Ghanem,
Managing Director of Hikma Ventures. "By offering an end-to-end
solution which optimizes and personalizes care, Octave is
revolutionising the way MS is treated and managed. We're thrilled
to support their important mission, which aligns with Hikma's role
as a leading provider of MS treatments in the Middle East and North Africa."
"We appreciate Hikma Venture's thoughtful and collaborative
approach in identifying and partnering with companies that have the
potential to make a big impact in neurodegenerative diseases with
novel digital health solutions," said William Hagstrom, Founder and CEO of Octave
Bioscience. "We share a vision for how digital health can improve
patient care and outcomes, and we're delighted that our partnership
with Hikma will help bring our precision medicine solution to more
MS patients and expand into other neurodegenerative diseases."
MS is globally considered to be an important disease area with
an underserved population and high unmet need ranging from
diagnostics to care management. The challenges of this disease have
been devastating and visible through misdiagnosis, difficulties in
monitoring disease progression and evaluating the prescribed
medication's efficacy. This has also been reflected in high failure
rates for MS R&D clinical trials, which have been notoriously
difficult to conduct.
Octave Bioscience will use the proceeds to support their
commercialization efforts in MS and to explore expansion
opportunities into other neurodegenerative diseases such as
Parkinson's and Alzheimer's.
Investor
Enquiries:
|
|
Hikma
Ventures
|
|
Lana
Ghanem
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lana@hikmaventures.com
|
Managing Director,
Hikma Ventures
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+962 6 580
3100
|
Media:
Steve Weiss
David Belian
US Communications and
Public Affairs
|
+1 732 788
8279
+1 848 254
4875
uscommunications@hikma.com
|
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated
BBB-/stable S&P and BBB-/positive Fitch)
Hikma helps put better health within reach every day for millions
of people around the world. For more than 40 years, we've been
creating high-quality medicines and making them accessible to the
people who need them. Headquartered in the UK, we are a global
company with a local presence across the
United States (US), the Middle
East and North Africa
(MENA) and Europe, and we use our
unique insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed
to our customers, and the people they care for, and by thinking
creatively and acting practically, we provide them with a broad
range of branded and non-branded generic medicines. Together, our
8,800 colleagues are helping to shape a healthier world that
enriches all our communities. We are a leading licensing partner,
and through our venture capital arm, are helping bring innovative
health technologies to people around the world. For more
information, please visit: www.hikma.com.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the
corporate venture capital arm of Hikma Pharmaceuticals. Hikma
Ventures invests in global start-ups where Hikma's expertise can
accelerate revenue growth and enhance value creation by providing
ventures with access to the resources of a multinational
pharmaceutical company. For more information, please visit
www.hikmaventures.com.
About Octave
Octave was founded to deliver a
fully-integrated precision care solution for multiple sclerosis as
well as a full range of neurodegenerative diseases. The solution
provides neurologists and their patients with quantitative,
objective metrics to facilitate informed care and shared decision
making to drive better patient outcomes.
Octave's Precision Care Solution is the first-of-its-kind that
accurately and objectively measures, and helps manage, complex and
high-cost neurodegenerative diseases, starting with multiple
sclerosis. Octave developed the first and only multivariate blood
test to measure MS disease activity, enhanced MRI analytics and
protocols, and a digital clinical program with Octave MS care
partners to provide continuity of care.
Provider: The solution provides neurologists with a
longitudinal and holistic perspective of the patient along with
comprehensive and actionable insights, enabling more confident and
informed care decisions.
Payer: The integrated and multi-dimensional approach
allows payers to reduce total cost of care by optimizing healthcare
medications and utilization (hospitalizations, ER visits, MRIs,
labs).
Pharma: Octave enables pharma to optimize the entire
lifecycle of drug discovery & development as well as clinical
trials and post marketing with real world evidence.
Through purposeful problem solving and innovative technologies,
Octave's platform generates, analyzes and combines data to create a
new paradigm of MS care, leading to improved patient outcomes.
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SOURCE Hikma Pharmaceuticals USA Inc.