On June 4, 2020 Research Corporation Technologies, Inc. (RCT) reported that it has acquired and invested growth capital into Translational Drug Development (TD2), the leading fully integrated precision oncology medicine development organization (Press release, Research Corporation Tech, JUN 4, 2020, View Source [SID1234560829]). TD2 provides end-to-end solutions, including translational preclinical services; regulatory strategic guidance, planning and document submission services; and clinical trial design and execution for innovative oncology-focused companies.
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TD2, based in Scottsdale, Arizona, focuses exclusively on oncology medicine development with unparalleled experience conducting translational studies from bench-to-bedside against all tumor types and hematology indications. RCT, based in Tucson, Arizona, with assets of more than $500 million, focuses on investing in promising biomedical companies using expertise acquired through the successful commercialization of therapeutics, medical devices and life science tools for more than 30 years. These capabilities will significantly expand TD2’s precision oncology drug development services.
"The acquisition of TD2 represents an opportunity for a unique partnership with an outstanding management team and, by providing additional growth capital, we plan to add scale and enable the expansion of TD2’s current offerings," said Shaun Kirkpatrick, RCT President. "TD2 will continue its successful business model of providing focused and comprehensive oncology drug development solutions to rapidly advance products to patients most likely to benefit from these treatments."
"For more than 17 years, TD2 has been supporting oncology innovators by designing clinical programs that predict unique contexts of sensitivity for new medicines which then provide accelerated patient benefits in clinical testing. Using our combined infrastructure and expertise, we intend to strategically expand the suite of capabilities to match the future needs of biotechnology and pharmaceutical companies seeking comprehensive solutions from early-stage, proof-of-concept programs to registration," said Kirkpatrick.
"We believe that RCT is the ideal partner for TD2 to expand its mission of accelerating exciting new medicines to patients that urgently need them," said Stephen Gately, PhD, CEO of TD2. "We share a common vision about the future of oncology drug development and have a passion to deploy solutions that increase the likelihood that patients on TD2 supported trials have the opportunity for clinical benefit."
"We have known RCT and their outstanding team for many years and have had the opportunity to work closely with them on numerous successful programs," said Daniel Von Hoff, MD, FACP, Chief Development Officer for TD2. "We could not be more pleased about having TD2 join the RCT family."
The acquisition of TD2 by RCT will be a catalyst to expand and accelerate TD2’s platform of integrated oncology solutions and to position TD2 as the leader in strategic oncology medicine development to assist life sciences companies in this fast-paced time of therapeutic innovation in oncology.