SOLVO Biotechnology Adds American Experts to Top ... - Europabio
SOLVO Biotechnology Adds American Experts to Top ... - Europabio
SOLVO Biotechnology Adds American Experts to Top ... - Europabio
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<strong>SOLVO</strong> <strong>Biotechnology</strong> <strong>Adds</strong> <strong>American</strong> <strong>Experts</strong><br />
<strong>to</strong> <strong>Top</strong> Management and Expands Its Presence in the U.S.<br />
PRESS RELEASE<br />
Bos<strong>to</strong>n, MA – Szeged/Budaörs, Hungary, June 20, 2012 – <strong>SOLVO</strong> <strong>Biotechnology</strong> (<strong>SOLVO</strong>, www.solvo.com),<br />
has appointed two internationally renowned <strong>American</strong> scientists <strong>to</strong> <strong>to</strong>p management positions in the<br />
company. The pioneer and market leader in the field of transporters recently opened a fully owned<br />
subsidiary in Bos<strong>to</strong>n, MA, and has started adding GLP services <strong>to</strong> its current, ISO 9001 certified, portfolio<br />
through a new cooperation agreement with Plainsboro, NJ-based XenoBiotic Labora<strong>to</strong>ries (XBL). The<br />
addition of two international members <strong>to</strong> <strong>SOLVO</strong>’s management further underlines the company's<br />
ambitious business plans in the U.S. and beyond.<br />
Featuring dynamic growth ever since it was founded in 1999, <strong>SOLVO</strong> has entered a new phase in its development.<br />
The company, which was the first <strong>to</strong> commercialize transporter assays, has been a dominant player ever since, and<br />
is the market leader contract research labora<strong>to</strong>ry (CRO) specialized in transporters both in Europe and the U.S.<br />
<strong>SOLVO</strong> operates a well-developed sales, business development and marketing team all over Europe. For its North<br />
<strong>American</strong> sales, however, so far it has relied on third-party representatives and strategic partnerships.<br />
Now this has changed. In April, the Hungary-based biotechnology leader established <strong>SOLVO</strong> <strong>Biotechnology</strong> USA<br />
Inc., with its head office in Bos<strong>to</strong>n, MA. One month later, the company signed an agreement with Plainsboro, NJbased<br />
XBL, <strong>to</strong> transfer its comprehensive efflux and uptake transporter assays <strong>to</strong> XBL’s research facilities. This<br />
cooperation allows <strong>SOLVO</strong> <strong>to</strong> enhance its North <strong>American</strong> sales with introducing GLP services in addition <strong>to</strong> its<br />
current, ISO 9001 certified, portfolio.<br />
“Highlighting our focus on significantly increasing our market share in North America and Asia, I’m also pleased <strong>to</strong><br />
welcome two leading U.S. transporter experts in our management,” said Ernő Duda, <strong>SOLVO</strong>’s President and CEO.<br />
William W. Johnson has been appointed Vice President, Global Operations, while the new Bos<strong>to</strong>n subsidiary is led<br />
by Kent Grindstaff, who has been named Senior Direc<strong>to</strong>r, Business Development and Operations, North America.<br />
Before joining <strong>SOLVO</strong>, Dr. Johnson was at OSI Pharmaceuticals, one of <strong>SOLVO</strong>’s <strong>American</strong> cus<strong>to</strong>mers. “Being a<br />
client is probably the best way <strong>to</strong> get <strong>to</strong> know a company. I quickly realized that <strong>SOLVO</strong> is a rapidly growing<br />
international organization,” he said. “I can see huge growth potential in North America and great opportunities in<br />
Asia as well. I’ll work <strong>to</strong> keep <strong>SOLVO</strong> ahead of the competition, and <strong>to</strong> impress our cus<strong>to</strong>mers through continuously<br />
improving the quality and the presentation of our data.”<br />
“When I accepted <strong>to</strong> help set up and lead <strong>SOLVO</strong>’s subsidiary in Bos<strong>to</strong>n, my real interest was not in sales per se,<br />
but rather in building long-term relationships; helping cus<strong>to</strong>mers with their transporter-related scientific needs in<br />
discovery programs or later stage clinical drug development and with addressing questions raised by regula<strong>to</strong>ry<br />
agencies,” commented Dr. Grindstaff, who left the helm of research at Optivia <strong>Biotechnology</strong> <strong>to</strong> join <strong>SOLVO</strong>.<br />
“<strong>SOLVO</strong> is dedicated <strong>to</strong> provide not just the best assays in the market, but the most appropriate assays for their<br />
cus<strong>to</strong>mers <strong>to</strong> address their specific needs and questions surrounding their compounds,” he explained.<br />
The transporter field is rapidly developing, and appreciation of its importance is growing among drug developers<br />
and the scientific community, as well regula<strong>to</strong>ry agencies, such as the FDA and the EMA. Besides their role in the<br />
pharmacokinetics of a particular drug, the significance of transporters in drug-drug interactions, drug metabolism, as<br />
well as safety and <strong>to</strong>xicity is becoming widely recognized. Regula<strong>to</strong>ry agencies are expected <strong>to</strong> impose increasingly<br />
rigorous criteria on in vitro transporter assays worldwide, in order <strong>to</strong> ensure that these studies are an accurate<br />
representation of what happens in vivo, i.e. in the human body. Companies in the field will need <strong>to</strong> make a joint<br />
effort <strong>to</strong> standardize these assays, and demonstrate their value in predicting what occurs in the in vivo situation.<br />
“<strong>SOLVO</strong> is uniquely positioned <strong>to</strong> lead such an international initiative,” Dr. Grindstaff added. “With around 400<br />
cus<strong>to</strong>mers in nearly 40 countries and close <strong>to</strong> 100 employees, <strong>SOLVO</strong> is 2 <strong>to</strong> 3 times bigger than its nearest, strictly<br />
transporter focused competi<strong>to</strong>r in the U.S. It has unparalleled resources and incredibly well established academic<br />
interactions. In many cases, the company’s early stage research is not based on where the market is <strong>to</strong>day, but on<br />
where they think the field will be <strong>to</strong>morrow.”
For further information, contact:<br />
Berend Oosterhuis, VP Business Development, berend@solvo.com or inquire at www.solvo.com<br />
<strong>SOLVO</strong> <strong>Biotechnology</strong>, +36-30-415-8550 (mobile), or +36-23-503-940 (landline)<br />
PRESS RELEASE<br />
Bios of William W. Johnson and Kent Grindstaff, as well as other senior managers of <strong>SOLVO</strong> <strong>Biotechnology</strong> are<br />
available on the page<br />
www.solvo.com/company/leadership<br />
An interview with William W. Johnson is located here:<br />
http://www.solvobiotech.com/news/an-interview-with-william-w-johnson-vice-president-global-operations<br />
A statement by Kent Grindstaff on his career and his vision of <strong>SOLVO</strong> can be found here:<br />
http://www.solvobiotech.com/news/kent-grindstaff-senior-direc<strong>to</strong>r-business-development-operations-north-ameri