NextCell establishes QVance to meet the Nordic’s need for quality analytics
NextCell Pharma AB ("NextCell" or the "Company") today announces that it has formed a subsidiary company specialising in quality control analytics. QVance’s launch is a strategic addition for NextCell as the company grows its presence in the advanced therapy market. QVance will specialise in quality analyses for advanced therapeutic companies, including NextCell, in the growing cell and gene therapy market. QVance will address a large gap in the Nordic region, where there is a significant lack of local providers in this area.
The Advanced Therapies Medicinal Product (ATMP) market is growing at an annual growth rate of 15% and has an expected value of SEK 39 billion by 20321. The Nordic region is one of the fastest growing hubs for ATMPs in the European market. In 2023, the “ATMP 2030” initiative was launched with a vision to transform the healthcare system and make Sweden a world leader in ATMPs2. NextCell Pharma is a partner in this initiative, together with other key players such as the Swedish Medical Products Agency, many of the regional associations in Sweden, large hospitals and large pharmaceutical companies such as Astra Zeneca.
NextCell's subsidiary QVance, based in Huddinge, has been developed to address the specific needs of advanced therapy companies, especially those wanting a locally situated provider of quality analytics. Addressing a gap in the service provision for advanced therapy companies in the Nordics, QVance’s business model is based on fee-for-service and vision is to provide local analytics to those in the Nordics, offering an array of quality control assays, product release and bespoke assay development for companies of all sizes. Analytical equipment, cleanroom space and expert staff will be transferred from NextCell to the new company, which will be a service provider for NextCell and other ATMP companies.
"We are leading the development of cell therapies and have identified a growing need for quality analyses in the Nordics. QVance has been borne out of an understanding of what ATMP developers need and what is currently missing in our region. NextCell’s own experience has highlighted this gap as we ourselves move through the development pathway of our own drug candidate, ProTrans,” comments NextCell's CEO Mathias Svahn.
1) Future Markets Insights REP-GB-162421
2) ATMP - ATMP2030 (atmpsweden.se)
For more information about NextCell Pharma, please contact
Mathias Svahn, CEO
Patrik Fagerholm, CFO
Tel: +46 8 735 55 95
E-mail: info@nextcellpharma.com
Website:www.nextcellpharma.com
Linkedin: https://www.linkedin.com/NextCell-Pharma
Twitter: https://twitter.com/NextCellPharma
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About NextCell Pharma AB
NNextCell is a cell therapy company that is in phase 2 studies with the drug candidate ProTrans for the treatment of type 1 diabetes. The focus is to obtain market approval of ProTrans via a phase 3 study. In addition to type 1 diabetes, ProTrans is being evaluated in two clinical trials for COVID-19, in Örebro and Montreal, Canada. In addition, NextCell owns 8.5% of FamicordTX, a CAR-T oncology start-up, and 100% of Cellaviva, Scandinavia's largest private stem cell bank licensed by the Public Health Agency of Sweden (IVO) to preserve and store stem cells from umbilical cord blood and umbilical cord tissue for family use.