Cassava Sciences Announces Pharmaceutical Supply Agreement for Simufilam

Rhea-AI Summary

Cassava Sciences (Nasdaq: SAVA) has entered a drug supply agreement with Evonik Industries for simufilam, a treatment candidate for Alzheimer’s disease. The agreement facilitates the supply of large-scale, clinical-grade simufilam as Cassava progresses in its mission to develop solutions for chronic neurodegenerative diseases. The partnership highlights a commitment to enhancing the quality of life for Alzheimer's patients. Evonik, a leading contract development and manufacturing organization, aims to leverage its expertise to support Cassava's goals.

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• Partnership with Evonik enhances supply chain reliability for simufilam.
• Collaboration aims to advance Alzheimer's treatment options.

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• None.

AUSTIN, Texas, March 09, 2021 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company developing product candidates for Alzheimer’s disease, today announced it has entered into a drug supply agreement with Evonik Industries AG for simufilam. Under the agreement, Evonik will supply Cassava Sciences with large-scale, clinical-grade quantities of simufilam, a drug candidate for the treatment of Alzheimer’s disease.

“I am pleased with our success to date in being an effective collaborator with Evonik, a company with a long, successful and reliable track record of supporting pharmaceutical supply chains,” said Remi Barbier, President and CEO of Cassava Sciences.

“We are delighted to be collaborating with Cassava and contributing to fight Alzheimer’s together. We are committed to supporting Cassava in their goals to maintain the quality of life for millions of patients around the world and to further advance potential treatment options,” says Dr Thomas Riermeier, head of Evonik’s Health Care business line. Evonik is one of the world’s largest contract development and manufacturing organizations (CDMO) for active pharmaceutical ingredients and advanced intermediates.

About Evonik
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €12.2 billion and an operating profit (adjusted EBITDA) of €1.91 billion in 2020. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 33,000 employees work together for a common purpose: We want to improve life today and tomorrow.

About Cassava Sciences, Inc.
Cassava Sciences’ mission is to discover and develop innovations for chronic, neurodegenerative conditions. Over the past 10 years, Cassava Sciences has combined state-of-the-art technology with new insights in neurobiology to develop novel solutions for Alzheimer’s disease. For more information, please visit: https://www.CassavaSciences.com.

For More Information Contact:
Eric Schoen, Chief Financial Officer
eschoen@CassavaSciences.com
(512) 501-2450 

FAQ

What is the drug supply agreement between Cassava Sciences and Evonik?

Cassava Sciences entered a drug supply agreement with Evonik Industries for simufilam, a candidate treatment for Alzheimer’s disease.

How does the Evonik partnership impact Cassava Sciences' clinical trials?

The partnership ensures the supply of clinical-grade simufilam, enhancing Cassava's ability to conduct trials effectively.

What is simufilam used for?

Simufilam is being developed as a treatment for Alzheimer’s disease.

When was the agreement between Cassava Sciences and Evonik announced?

The agreement was announced on March 9, 2021.

What is Cassava Sciences' focus?

Cassava Sciences focuses on discovering and developing innovations for chronic, neurodegenerative conditions.