Collaboration provides Axsome access to new digital technologies developed by Veeva
NEW YORK and PLEASANTON, Calif., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, and Veeva Systems (NYSE: VEEV), today announced a strategic partnership to augment the build of Axsome’s Digital-Centric Commercialization (DCC™) platform. Veeva is the leader in cloud solutions for the global life sciences industry.
The partnership with Veeva is part of the continuing build of Axsome’s DCC platform in preparation for the potential launch of two differentiated CNS investigational medicines, AXS-05 for depression and AXS-07 for migraine, anticipated next year. The Axsome DCC platform is a proprietary approach to commercialization that incorporates specialized digital tools, proprietary data and analytics, integrated systems, and an intelligent operating model. Through this digital platform, Axsome aims to optimize physician and patient engagements, enhance engagement quality, and increase the effectiveness of promotional efforts as compared to traditional approaches.
The Axsome DCC platform will utilize all Veeva Commercial Cloud products and services, including: multichannel Veeva CRM as the technology foundation for engagement of customers through preferred digital and personal channels; MyVeeva for Doctors mobile application for health care professionals (HCPs) that will allow efficient and compliant real time messaging between HCPs and Axsome; and Veeva Data Cloud which will provide longitudinal data to power an efficient, targeted launch.
As part of the strategic partnership, Axsome will also have early access to new digital technologies developed by Veeva, and Axsome will help shape Veeva’s product direction. This access will increase the scope of digital tools available to Axsome. In addition, Veeva’s Business Consulting team will provide deep domain expertise and the most complete, industrywide engagement data and insights to support Axsome’s launch strategy.
“Veeva is an ideal partner for Axsome as they share our commitment to innovation and passion for improving patient care,” said Herriot Tabuteau, MD, Chief Executive Officer of Axsome. “This partnership provides us a specialized platform of technology, data, and business consulting to drive our Digital-Centric Commercialization approach for more effective and capital efficient commercial execution.”
“Axsome’s Digital-Centric Commercialization strategy would represent a significant shift for the pharmaceutical industry. We are pleased to partner closely with Axsome to help shape and execute their innovative launch plans,” said Peter Gassner, Chief Executive Officer of Veeva. “We are committed to moving the industry forward by combining the best in technology, data, and business consulting.”
About Axsome Therapeutics, Inc.
Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders for which there are limited treatment options. For the many people facing unsatisfactory treatments for CNS disorders, Axsome accelerates the invention and adoption of life-changing medicines. Axsome’s core CNS product candidate portfolio includes five clinical-stage candidates, AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14. AXS-05 is being developed for major depressive disorder (MDD), Alzheimer’s disease (AD) agitation, and as a treatment for smoking cessation. AXS-07 is being developed for the acute treatment of migraine. AXS-12 is being developed for the treatment of narcolepsy. AXS-14 is being developed for fibromyalgia. AXS-05, AXS-07, AXS-09, AXS-12, and AXS-14 are investigational drug products not approved by the FDA. For more information, please visit the Axsome’s website at axsome.com. Axsome may occasionally disseminate material, nonpublic information on the company website.
About Veeva Systems
Veeva Systems Inc. is the leader in cloud solutions—including data, software, and services—for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 900 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices throughout North America, Europe, Asia, and Latin America. For more information, visit veeva.com.
Forward Looking Statements Regarding Axsome Therapeutics, Inc.
Certain matters discussed in this press release are “forward-looking statements”. Axsome may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Axsome’s statements regarding trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the success, timing and cost of Axsome’s ongoing clinical trials and anticipated clinical trials for Axsome’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including Axsome’s ability to fully fund our disclosed clinical trials, which assumes no material changes to Axsome’s currently projected expenses), futility analyses and receipt of interim results, which are not necessarily indicative of the final results of Axsome’s ongoing clinical trials, and the number or type of studies or nature of results necessary to support the filing of a new drug application (“NDA”) for any of Axsome’s current product candidates; Axsome’s ability to fund additional clinical trials to continue the advancement of Axsome’s product candidates; the timing of and Axsome’s ability to obtain and maintain U.S. Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, Axsome’s product candidates (including, but not limited to, with or without a special protocol assessment); the potential for Axsome’s clinical trials to provide a basis for accelerated approval of Axsome’s product candidates for the treatment of several indications and accelerate their development timelines and commercial paths to patients (including, but not limited to, with or without a breakthrough therapy designation); Axsome’s ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to Axsome, if at all; the successful implementation of Axsome’s research and development programs and collaborations; the success of Axsome’s license agreements; the acceptance by the market of Axsome’s product candidates, if approved; Axsome’s anticipated capital requirements, including Axsome’s anticipated cash runway and Axsome’s ability to fund Axsome’s commercial launch, which assumes product approval; unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19; and other factors, including general economic conditions and regulatory developments, not within Axsome’s control. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and Axsome undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.
Forward Looking Statements Regarding Veeva Systems Inc.
This release contains forward-looking statements, including regarding the partnership with Axsome and its potential benefits, the market demand for and acceptance of Veeva’s products and services, the results from use of Veeva’s products and services, and general business conditions, particularly within the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Veeva’s filing on Form 10-Q for the period ended July 31, 2020. This is available on Veeva’s website at veeva.com under the Investors section and on the SEC’s website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.
Axsome Therapeutics, Inc.