Bio-Quant’s parent, NexMed, claims deal will provide formal presence in Japan and increase existing foothold.
Japanese company Cosmo Bio negotiated distribution rights to Bio-Quant’s discovery and preclinical contract research services throughout Japan.
Based in San Diego, Bio-Quant is a wholly owned subsidiary of NexMed and specializes in contract research for in vitro and in vivo contract drug discovery and preclinical development services. According to NexMed’s CEO, Bassam Damaj, Ph.D., Japan is home to the third largest concentration of biotech and pharma companies worldwide, behind the U.S. and Europe.
“Japan represents a key growth opportunity for Bio-Quant. The distribution agreement provides us with a formal presence in Japan, where we have already established an initial foothold with a number of leading Japanese pharmaceutical companies.”
NexMed itself is a CRO offering in vitro and in vivo pharmacology services and research models. The firm says its goal is to generate revenues both from the growth of Bio-Quant and through commercialization of its NexACT transdermal drug delivery technology in out-licensing deals with pharma and biotech companies worldwide. NexMed is also actively pursuing partnering opportunities for NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction, and cancer.