NEC Corporation (NEC) and Norway-based NEC OncoImmunity (NOI) announced that NOI will be realigned as a subsidiary of NEC Bio B.V. (NB) in Hilversum, Netherlands, to advance AI-powered personalised treatment and beyond.
Key highlights:
- NEC has realigned NEC OncoImmunity as a subsidiary of NEC Bio B.V., following its acquisition in 2019.
- NEC has also established NEC Bio Therapeutics in Mannheim, Germany, as a subsidiary of NB.
- The new structure will enable NEC to drive long-term growth - the main focus of NB will be to streamline all AI, drug research and development activities.
NEC has also established another new company, NEC Bio Therapeutics (NBT) in Mannheim, Germany, also a subsidiary of NB.
This follows a previous announcement in 2019 whereby NEC said it would expand the application of its AI technologies to drug development, focusing on advanced therapy as part of enhancing its healthcare business and soonafter, acquired NOI that same year.
The new structure will enable NEC to drive long-term growth. The main focus of NB will be to streamline all AI, drug research and development activities. While NOI will continue with its research activities, working on the frontiers of the intersection between drug research and AI technology, NBT will lead the clinical development and clinical strategy of the assets in the drug development pipeline.
Commenting on the announcement, Mr. Takayuki Morita, CEO of NEC, said: "We believe this is a key strategic step for NEC to continue its growth in the biopharma space.
Establishment of this organisational structure will allow us to concentrate on the execution of strategies for growth in the drug development business, and reinforces NEC's commitment to Healthcare and Life Science, which is positioned to become one of the next pillars of growth for NEC."
Mr. Akira Kitamura, CEO, NEC Bio B.V., said: "NEC Bio's mission is to bring novel therapies to patients across the globe, to improve their quality of life and health outcomes. I am confident that with NO''s pioneering research, along with the strong clinical expertise of NBT, we can deliver on that mission. NEC Bio's success will be a strong growth driver for NEC's Healthcare and Life Science business."
Dr. Richard Stratford, CEO of NEC OncoImmunity, said: "This new organisation is vital for further growth in the drug development space. NEC OncoImmunity will continue its cutting-edge research and development activities for world class AI technology to bring novel treatments to patients across the globe in the fields of oncology and infectious disease."
"It has been very exciting to be part of the NEC Group team. As a next step, I am looking forward to focusing on clinical strategy and development, as well as the planning and execution of clinical trials in oncology," added Dr. Heinz Lubenau, CEO of NEC Bio Therapeutics.
NEC Bio, along with NOI and NBT, will continue to work with various partners to facilitate pre-clinical and clinical development in the infectious disease and oncology fields.