Canadian company expands to Leipzig
The Canadian pharmaceutical company Nuvo Research Inc. establishes a branch in Leipzig. Research program encompasses drug development for allergic rhinitis and rheumatoid arthritis.
The Fraunhofer Institute for Cell Therapy and Immunology IZI in Leipzig and the Canadian pharmaceutical and biotech company Nuvo Research Inc. have initiated a cooperative project in drug development. The cooperation will be funded by the Development Bank of Saxony (Sächsische Aufbaubank SAB). The grant approval was personally handedover by Saxony's Economics Minister Thomas Jurk on August 20, 2009 in the context of a press conference at the Fraunhofer Institute Leipzig to Dr. Wilhelm Gerdes from the Fraunhofer Institute, and Dr. Henrich Guntermann, President & CEO of Nuvo Research Inc..
The granted funding shall support the preclinical and clinical development of an immune modulating drug in the Leipzig location. Nuvo Research GmbH, a subsidiary company of the Canadian company which was established specifically for this purpose in Leipzig, will expedite the development of the drug WF10 with local partners. The activities will be planned and coordinated by employees of the company in Leipzig.
Nuvo Research GmbH Leipzig plans to recruit up to 15 new employees, primarily in the area of the clinical development of the drug WF10. The approved SAB project extends over three years with a total volume of over one million Euro.