Xceleron, Covance Enter Co-promotional Pact

Xceleron and Covance have entered a co-promotional agreement in which both companies will make available their drug development services to customers. The two companies will carry out joint projects on behalf of sponsors and further the development of new applications.

Xceleron chief executive officer, professor Colin Garner, said, “This is a strategically important deal for Xceleron. It demonstrates how quickly our technology has moved from being seen as novel and at the edges of drug development to its acceptance as a mainstream part of the drug development process. Covance is a great partner to have and this agreement will add global marketing power to our business. We look forward to working closely with them.”

Scott Tarrant, Xceleron’s vice president of business development, commented, “Covance is a well known service provider to U.S. pharma and biotech companies. The recent expansion of Covance’s Phase I capabilities mean that our customers will have enhanced support to conduct accelerated clinical trials and improve the efficiency of their drug development processes.”