LEO Pharma and ICON Enter a Strategic Partnership to Propel Clinical Trial Execution Within Medical Dermatology

Rhea-AI Summary

LEO Pharma and ICON plc (NASDAQ: ICLR) have announced a strategic partnership aimed at enhancing patient-centric clinical trial execution. This initiative, dubbed PACE, seeks to address current clinical development challenges by improving access to innovative dermatology treatments. The partnership will utilize a hybrid outsourcing model, allowing for scalable efficiencies in clinical trials, decentralized clinical trials, and leveraging ICON's extensive resources. This collaboration aligns with LEO Pharma's 2030 strategy, focusing on delivering treatments faster and supporting sustainable business practices.

Positive

• Strategic partnership with ICON to enhance clinical trial efficiency.
• Focus on patient-centric approaches in dermatology clinical trials.
• Utilization of hybrid outsourcing models for scalability and flexibility.
• Access to ICON's extensive services and expertise.

Negative

• None.

BALLERUP, Denmark & DUBLIN--(BUSINESS WIRE)-- LEO Pharma, a global leader in medical dermatology, and ICON plc (NASDAQ: ICLR) today announced a strategic partnership that will enable LEO Pharma to scale clinical trial execution that is patient-centric and cost effective, and which will support the company’s overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry.

The mission of the partnership is to improve the lives of dermatology patients with access to innovative clinical trials and the launch of new medicines. The partnership will operate under the acronym of PACE, reflecting the requirement to move quickly to address today’s clinical development challenges. It also represents LEO Pharma and ICON’s shared values of Passion, Agility, Communication and Excellence in delivery.

Building on earlier collaboration successes within psoriasis trials, LEO Pharma expects to further strengthen its transformation journey by entering a strategic partnership with ICON. The partnership will leverage both fully outsourced and functional outsourcing models in a tailored and flexible hybrid approach. LEO Pharma plans to achieve the following while remaining a patient centric company:

• Drive efficiencies in clinical trials
• Significant and lean scalability in all areas of expertise within clinical development
• Co-investment within the area of decentralised clinical trials
• Access to a significant number of ICON in-house ancillary services
• Economies of scope and scale
• Access to external data, knowledge & expertise as well as technologies
• A partnership with a company that shares similar core values

“We’ve been exploring several outsourcing models but found a hybrid sourcing model to be the most efficient. Partnering with ICON supports our 2030 strategy as it will help us to bring innovative treatments to patients faster while also supporting a more sustainable business through scalability and flexibility,” said Jörg Möller, Executive Vice President and head of Global R&D at LEO Pharma. “ICON’s wealth of services and leading position in clinical development will support LEO Pharma’s R&D strategy building on driving innovation through partnerships and support staying competitive.”

In supporting LEO Pharma through this partnership, ICON will draw upon a team of over 500 professionals from across its business to deliver tailored solutions, bringing differentiating and enabling capabilities including its laboratories, Accellacare site-network, FIRECREST site management and decentralised clinical trial capabilities to create strategic advantage in how the trials are delivered.

“ICON is delighted to enter this partnership with LEO Pharma that truly takes advantage of our breadth of capability and expertise. We take a flexible and integrated approach when working with our partners, utilising fully outsourced, hybrid and FSP models that complement our partner’s internal capabilities and enable them to achieve their strategic goals. It is also motivating for our employees to be working with a partner that shares our values and has a commitment to improving the lives of patients,” said Steve Cutler, CEO, ICON.

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Additional Information

Connect with ICON on LinkedIn: www.linkedin.com/company/icon-plc-2/
Follow @ICON_plc on Twitter: https://twitter.com/iconplc
Connect with LEO Pharma on LinkedIn: www.linkedin.com/company/leo-pharma

About ICON plc

ICON is a world-leading healthcare intelligence and clinical research organisation. From molecule to medicine, we advance clinical research providing outsourced development and commercialisation services to pharmaceutical, biotechnology, medical device and government and public health organisations. We develop new innovations, drive emerging therapies forward and improve patient lives. With headquarters in Dublin, Ireland, ICON employed approximately 41,100 employees in 111 locations in 53 countries as at December 31, 2022. For further information about ICON, visit: www.iconplc.com.

About LEO Pharma

LEO Pharma is a global company dedicated to advancing the standard of care for the benefit of people with skin conditions, their families and society. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, and today, the company offers a wide range of therapies for all disease severities. LEO Pharma is headquartered in Denmark with a global team of 4,700 people, serving millions of patients across the world. In 2022, the company generated net sales of DKK 10.6 billion.

ICON/ICLR-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20230309005472/en/

Claire Quinn

ICON

+353 87 4066091

claire.quinn@iconplc.com

Pia Beltrao Hansen

LEO Pharma

+45 3140 1245

IRQDK@leo-pharma.com

Source: ICON plc

FAQ

What is the purpose of the ICON and LEO Pharma partnership?

The partnership aims to enhance patient-centric clinical trial execution and improve access to innovative dermatology treatments.

When was the partnership between ICON and LEO Pharma announced?

The partnership was announced on March 9, 2023.

What is the significance of the PACE initiative?

PACE represents a commitment to address clinical development challenges quickly while maintaining shared values like passion and excellence in delivery.

How will the partnership affect clinical trial execution?

The partnership will leverage a hybrid outsourcing model, driving efficiencies and access to ICON's resources for a more effective trial execution.

What is the stock symbol for ICON?

ICON is traded under the stock symbol ICLR on NASDAQ.