Avanzanite Bioscience Launches Novel Business Model to Commercialize Innovative Medicines for Rare Diseases in Europe
- Establishes first-in-class biopharmaceutical commercialization platform specifically addressing rare diseases in Europe
- Secured exclusive rights in 26 European Countries to an investigational orphan medicine for the treatment of an ultra-rare ophthalmologic disease, currently under review by the European Medicines Agency for marketing approval
- Founded by biopharmaceutical executives Adam Plich, CEO, and Anant Murthy, Board Advisor, with the backing of a seasoned Advisory Board
AMSTERDAM--(BUSINESS WIRE)--Today, Avanzanite Bioscience B.V. (“Avanzanite” or the “Company”) officially launches its commercial-stage enterprise, seeking to expand patient access to medicines for rare diseases in Europe while unlocking revenue and growth potential for emerging research-based biopharmaceutical originators. Avanzanite, a fully authorized distributor of medicinal products, partners with these biopharmaceutical collaborators through flexible, bespoke licensing and distribution partnerships across Europe. The Company’s novel business model enables the global commercialization of promising medicines and addresses the unsustainable inequities in access to innovative orphan drugs across Europe.
Avanzanite was established to address a critical market need in the European orphan drug landscape due to the complexity and cost of streamlining business operations across 30+ countries given a limited number of patients and an increasingly challenging market access environment. In fact, most European launches of orphan drugs – some experts claim as high as 80% – fail to meet their commercial and revenue goals and do not reach patients in need. The result of these unique market dynamics leaves emerging biopharmaceutical companies unmotivated or ill-equipped to establish European operations or enter certain countries. As a result, there are an increasing number of biopharmaceutical companies either opting not to launch their new orphan medicines in Europe or exiting the market altogether. These dynamics are particularly damaging to emerging biopharmaceutical originators that are the driving force of global pharmaceutical innovation, especially for rare diseases. Ultimately, the patients are the ones paying the price by missing out on promising therapies.
Avanzanite’s Founder and CEO, Adam Plich, stated, “We are providing a market-driven solution for the issue of access to orphan medicines in Europe.”
“Our inspiration and the initial validation of our unique business model stems from our collaboration and an exclusive license agreement with SIFI S.p.A. (“SIFI”), a leading international ophthalmic company headquartered in Italy.” Mr. Plich continued, “SIFI partnered with Avanzanite to commercialize and distribute its investigational ultra-orphan medicine for the treatment of Acanthamoeba Keratitis (AK) – a devastating, highly resistant eye infection that accounts for 50% of blindness among contact lens users – across 26 countries within the European Economic Area and Switzerland.” After more than 15 years of research & development efforts, the European Medicines Agency (“EMA”) is currently reviewing the product for marketing approval.
“When evaluating commercialization options for our orphan medicine in multiple European territories,” stated Fabrizio Chines, SIFI Chairman and CEO. “Avanzanite made a compelling case as to why it would be best positioned to commercialize and, in fact, provide the broadest market access through its unique business model.” Mr. Chines continued, "Mr. Plich and his team demonstrated an impressive track record of managing the complexities of product launches across the fragmented European marketplace, particularly regarding pricing & reimbursement, physician engagement and technical operations.”
Mr. Plich has a proven track record of successful product launches in Europe. Most recently, he founded and led a boutique advisory firm supporting U.S. and European biopharmaceutical companies on corporate strategy and product launch. Previously, he served as a Vice President at Teva Pharmaceuticals where he led all pricing and market access activities in the European marketplace. Anant Murthy, Co-Founder and Board Advisor, also brings a demonstrated track record of successful orphan medicine launches and is currently the EMEA General Manager at Argenx. Previously, Murthy was a Vice President at Alnylam where he led pricing & market access for EMEA & Canada and was the General Manager of mid-size EU markets and Canada. Additionally, Avanzanite benefits from the deep expertise of its Advisory Board: Dawn Sherman, CEO of LabConnect; Daniel A. de Boer, CEO at ProQR; and Leopoldo Zambeletti, an independent healthcare corporate finance advisor. The Company has also established critical infrastructure and hired key leaders across commercialization and technical operations areas.
Avanzanite is advancing discussions with several biopharmaceutical companies seeking to enter the European market in order to expand its portfolio breadth. Given the high number of investigational drugs in development for orphan diseases, Avanzanite envisions significant opportunity to expand patient access and optimize value creation for originators. Avanzanite sees its near-term growth opportunity in late-stage or approved ultra- or other overlooked orphan medicines. Mr. Plich concluded, “We’ve cracked the code in deciphering this tricky landscape, and now, with our initial strategic partnership with SIFI, we are ready to take our transformational model to the next level by bringing new medicines to patients with rare diseases.”
ABOUT AVANZANITE BIOSCIENCE: Founded in 2021, by biopharmaceutical executives, Adam Plich and Anant Murthy, Avanzanite is on a mission to redefine the commercialization of orphan medicines to improve patient access across Europe and beyond. Derived from the word ‘Tanzanite’ – one of the rarest and most underappreciated gemstones on earth – Avanzanite was formed to capitalize on two primary objectives, one economic, and one humanitarian. The economic goal is to offer end-to-end commercialization and distribution partnership with research-based biopharmaceutical originators to unlock the full value of their orphan medicines in European markets; this is the unique expertise and core competency of the Avanzanite team through its decades of operating experience navigating this area. Equally important, the Company's humanitarian goal stems from our commitment to enabling access to novel medicines for patients who suffer from orphan diseases regardless of where in Europe they live. Avanzanite is fully authorized to distribute medicinal products throughout the European Economic Area.