ProMedDx Aims to Address the Biostorage Squeeze
NORTON, Mass., June 9, 2016 /PRNewswire/ — The rising cost and scarcity of lab space is putting small and midsize biotech firms in a bind. Often, they face a choice of using lab space to perform critical research or using it to house freezers to store the biologics that fuel their work. While some Biostorage companies may see this as an opportunity to raise revenue, Boston-area company, ProMedDx is focused on raising the bar.
ProMedDx founder, Jim Boushell says, “We are located in the hub of biotech innovation, where the demand and supply of laboratory space are out of sync. Emerging biotechs must maximize the revenue potential of each square foot of lab space by keeping more researchers researching. By taking the management of their biologics offsite, we create lab space and empower biotechs to do more discovery work in their current footprint.”
Currently, large pharmaceutical companies offsite their biologics to large “freezer farms” for cost-control and risk mitigation. Small to midsize biotechs are less aggressive due to the expense of one-size-fits-all solutions.
“It takes more than square-footage to support the life-altering discoveries of these biotechs,” Jim says. “This is what has driven us to grow our bioservices and become a single source provider of all phases of biospecimen management; from recruitment and consent through collection, and storage. Our bioservices empower these small to midsize biotechs with nearly everything but the research.”
Biospecimen management and information management share many characteristics. Both require local, centralized and offsite/cloud storage. They must provide security and follow best practices with dedicated resources to support them. Ultimately, the realized benefit from outsourcing these processes is better allocation of resources.
For Large pharma, this expertise may be found in-house, but for burgeoning biotechs—some of which are virtual—those resources aren’t there. So, after nearly 20 years in the biologics industry, ProMedDx is expanding its own services to enable biotechs to focus on science and spend less time on biologics management. These services include; a new Class 1000 bioprocessing suite that ensures the integrity and sterility of manufacturing control products, an on-site research blood collection center delivering custom and same-day collections, and a cold chain logistics team managing the entire discovery cycle.
“For years, Chief Scientific Officers and Bioresearchers have been reinventing the wheel, introducing unnecessary risk and slowing the progress of research,” says Jim. “By aligning with a proven bioservices organization such as ours, the entire bioresearch process becomes more efficient, higher quality, and keeps research on plan.”
Small to midsize biotech firms are where game-changing discoveries are being made. They need a partner that understands the discovery cycle and can help them bring new innovations to market faster. ProMedDx believes bioservices that provide this support will expedite the discoveries of the future, and they are focused on being that partner now.