NEC Establishes Subsidiaries in Europe for Strengthening Global AI Drug Development Business
NEC Corporation and NOI announced that NOI will be realigned as a subsidiary of NEC Bio B.V. (NB) in Hilversum, Netherlands, a newly established wholly-owned subsidiary of NEC. At the same time, NEC established another new company, NEC Bio Therapeutics (NBT) in Mannheim, Germany, also 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. 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.
NEC Corporation (NEC) announced in 2019 that it would expand the application of its cutting-edge AI technologies to drug development, focusing on advanced therapy as part of enhancing its healthcare business. Subsequently, in order to advance AI-powered personalized treatment and beyond, NEC acquired Norway-based NEC OncoImmunity (NOI) that same year.
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 organizational 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 organization 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.”
Dr. Heinz Lubenau, CEO of NEC Bio Therapeutics, said: “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.”
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