IDEA, who have supported 8 of the 15 biggest biopharmaceutical launches in the past 3 years, will partner with Amarantus in a novel royalty-split model, in a virtual Chief Commercial Officer partnership, to run for five years, designed to provide multi-year commercial strategy to the Amarantus portfolio of companies, with royalties paid to IDEA after monetisation.
IDEA Pharma’s CEO, Mike Rea praised the Amarantus portfolio in the statement, as exciting and innovative.
“The traditional fee-for-service consulting model is one that rewards quantity of input over quality, and imports established ideas from large pharma. When you win together it drives the best behaviour and crucially, allows an early-stage company like Amarantus to benefit from the right strategic inputs early. We are especially excited about working with the organizations being established around each of Amarantus’ pipeline products as we will be able to create value for Amarantus not only with its portfolio, but also with the complementary assets being aggregated within each of those organizations, beginning with Coeptis’ recently approved product Consensi,” said Rea.
Amarantus’ boss, Gerald Commissiong, was referred to as saying in the statement, that one of the key challenges for an early-stage biotech is to combine agility and innovation with world-class expertise, and the reassurance of experience. He said that a key area of focus for Amarantus is to maximize leading commercial competency that can both answer the ‘what if’ questions quickly and correctly – minimising cost, but maximising returns.
“This partnership will bring our subsidiaries cutting edge understanding of Commercial, incentivised for the long-term, which is hard to achieve in a traditional hiring strategy, or with fee-for-service partners. We believe this is the perfect blend of risk mitigation with maximisation of upside, and importantly for a biotech, we keep subsidiary overhead to a minimum,” he said.