Syneos Health (SYNH) Signs New Partnership With Cryoport
Syneos Health Inc. SYNH signed a partnership with Cryoport, Inc. CYRX, a leading global provider of innovative temperature-controlled supply-chain solutions to the life sciences companies focused on the pharmaceutical, and cell and gene therapy. The new partnership between Syneos Health and Cryoport is expected to provide the first fully integrated biopharmaceutical and supply-chain solution for the life sciences industry, which will likely support the global advancement of cell and gene therapies.
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Syneos Health will add its full suite of clinical development services to IntegriCell — the Cryoport platform for providing standardized apheresis. The services offered under the new partnership will include cryopreservation services, risk mitigation services, logistics support and secondary packaging.
Syneos Health believes that the partnership with CYRX will help it deliver seamless integration and insights for key services for cell and gene trial operations to biopharmaceutical customers. The combined services will help accelerate treatment timelines and improve outcomes by expanding patient access to these life-changing therapies worldwide.
Earlier this month, Syneos Health entered a strategic partnership with Fosun Pharma USA — the United States-based subsidiary of Shanghai Fosun Pharmaceutical. The partnership will leverage Syneos One expertise, accessing its clinical and commercial solutions.
In December 2022, Syneos Health extended its strategic partnership with Medable, as part of the company’s commitment to bring clinical trials closer to the patient. Syneos Health and Medable will continue to reduce site and patient burden, improve enrollment and retention, and increase patient access and diversity through innovative decentralized clinical trial solutions.
Comparison With Peers
Another company from the same industry, NextGen Healthcare, Inc. NXGN, acquired its long-time partner, TSI Healthcare — a privately held value-added reseller — last December. NextGen Healthcare partnered with TSI Healthcare as one of its premier clinical content and technical services partners, specializing in comprehensive solutions for specialty physician practices. TSI Healthcare’s services expertise, along with NXGN’s product and services, is likely to further solidify the latter’s position in the ambulatory healthcare space.
Veradigm Inc. MDRX, another company in the same industry, changed its name from Allscripts Healthcare Solutions, Inc. on Jan 1. Allscripts was transitioning its solutions to the Veradigm brand in 2022. Prior to this, MDRX announced an investment of $45 million in Holmusk, the global behavioral health real-world evidence and data analytics company.
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