Novotech, the global full-service clinical Contract Research
Organization (CRO) that partners with biotech companies to
accelerate the development of advanced and novel therapeutics at
every phase, has signed an Memorandum of Understanding (MOU) with
New Zealand Clinical Research (NZCR).
Novotech’s Senior Therapeutic Strategy Manager, Dr.
Shawnna Barrett, and Senior Business Development Manager, Lainie
Mulvanny, will announce the MOU at the 4th Annual Psychedelic
Therapeutics and Drug Development Conference in Boston, MA, on May
23-24, 2024.
NZCR, which has 4 sites across New Zealand, is a
leading early phase research center with a strong track-record
conducting psychedelics studies.
Novotech has previously collaborated with NZCR on
multiple psychedelic studies. This partnership further signals
Novotech’s commitment to pioneering research in the field of
psychedelic medicines.
For decades, Novotech has been establishing
relationships with specialized clinical research sites worldwide,
ensuring clients receive priority access to some of the most
experienced sites and clinical teams.
The global market for psychedelic drugs, was
estimated at US$5.50 Billion in 2023, and is projected to grow 13%
from 2024 to 2030, with revenues anticipated to reach close to
US$12.94 Billion.
Psychedelic drugs come in three main
categories:
- dissociative pharmaceuticals like phencyclidine (PCP)
- empathogens like 3,4-Methylenedioxymethamphetamine (MDMA;
ecstacy)
- serotonergic drugs such as lysergic acid diethylamide
(LSD)
The leading drugs being investigated in trials are
psilocybin, LSD, ketamine hydrochloride, and mebufotenin.
A Novotech review of current research applications
reveals that CNS disorders are the leading therapeutic area in
global psychedelic drug trials, with primary indications including
depression, anxiety disorders, pain, and substance abuse.
“This MOU signifies a further collaboration with
NZCR to support Novotech’s psychedelic therapy biotech clients.
With their extensive experience and expertise in conducting
clinical trials, coupled with a passionate team of psychiatrists
deeply invested in this area, NZCR is an ideal research partner for
exploring the therapeutic potential of psychedelics. Together with
NZCR, we aim to unlock new insights, drive meaningful progress, and
ultimately, make a positive impact on patients' lives,” stated Dr.
Barrett.
NZCR CEO, Dr. Christian Schwabe said, “NZCR has a
close and long-standing relationship with Novotech, who we have
successfully partnered with on previous psychedelic drug trials. We
are excited about the opportunities this MOU brings as we continue
to lead research in this therapeutic area.”
Novotech research has found that during the period
from 2019 to 2023, nearly 75 psychedelic drug trials were initiated
and remained ongoing. The trials are predominantly conducted in
Europe and North America, accounting for 39% and 38% respectively.
The Asia-Pacific region follows with 20%, while the Middle East,
Africa, and South and Central America together hold 3% share.
The number of psychedelic drug trials had grown by
more than fourfold from 2021 to 2023.
When analysing trials by phase the data shows Phase
II dominates with 37 trials, followed by 11 trials each in Phase I
and Phase III. Additionally, there were 4 trials in Phase I/II and
2 in Healthy Volunteers. The prominence of Phase II trials suggests
a prime focus on assessing efficacy and dosing of psychedelic drugs
in the period from 2019 to 2023.
NZCR was formed in 2020 through the merger of
Auckland Clinical Studies (ACS) and Christchurch Clinical Studies
Trust (CCST) and is New Zealand’s leading early phase clinical
research provider. In 2023, NZCR acquired Optimal Clinical Trials,
a late phase clinical trials operation, to form the NZCR Group.
NZCR Group brings experience in over 850 trials involving over
20,000 participants.
With physician led, world class research sites and
six units located in Auckland, Christchurch, Wellington, and
Hamilton, the NZCR Group conducts complex multi-phase clinical
research in healthy participant and patient populations.
About Novotech
Novotech-CRO.com
Founded in 1997, Novotech is a global full-service
clinical Contract Research Organization (CRO) focused on partnering
with biotech companies to accelerate the development of advanced
and novel therapeutics at every phase.
Recognized for its industry-leading contributions,
Novotech has received numerous prestigious awards, including the
CRO Leadership Award 2023, the Asia Pacific Cell & Gene Therapy
Clinical Trials Excellence 2023, the Asia-Pacific Contract Research
Organization Company of the Year Award since 2006.
The Company offers a comprehensive suite of
services including laboratories, Phase I facilities, drug
development consulting, regulatory expertise, and has experience
with over 5,000 clinical projects, including Phase I to Phase IV
clinical trials and bioequivalence studies. With a presence in 34
office locations and a dedicated team of 3,000+ professionals
worldwide, Novotech is a trusted end-to-end strategic partner of
choice.
For more information or to speak to an expert team
member visit www.Novotech-CRO.com
Media Contact
David James
mediacontact@novotech-cro.com
AU: +61 2 8218 2144
USA: +1 415 951 3228
Asia: +65 3159 3427