Provectis establishes presence in Basel
Provectis Healthcare has chosen Basel as the location for its headquarters. The company is striving to become the partner of choice for emerging and established biopharmaceutical firms in addition to supporting them with basic research, clinical development, regulatory approval, market launches and brand maximization.
Avinash Potnis, Founder of Provectis Healthcare (image: Provectis)
Basel can now welcome another internationally active healthcare company: Provectis Healthcare AG has set itself the goal of becoming the partner of choice for innovative and emerging pharmaceutical companies in order to make their advanced therapies for previously unmet medical needs available in Europe, Asia and the Middle East, further details of which can be found in a press release.
Provectis cites a recently published study, according to which 67 percent of the research and development pipeline for 2022 came from emerging biopharmaceutical companies. These were responsible for carrying out the majority of research activities, while the established pharmaceutical companies offered up their sales and marketing power. After the pandemic, however, pharmaceutical companies have become “highly selective and cautious” when choosing their products and have put numerous innovations on the backburner.
“Basel is an ideal investment destination”
For this reason, Provectis is keen to work with both in order to strengthen brands and optimize market launches. The startup also bundles clinical development capacities and helps to carry out bridging studies, expand labeling and improve products. In addition, Provectis can accelerate product approval processes.
To this end, according to co-founder Avinash Potnis, Basel is an ideal location: “The width and depth of innovation in healthcare space and its geographical location in Europe makes Basel an ideal investment destination to establish a company focused on commercializing precision medicines”.
Provectis was supported by Basel Area Business & Innovation, the investment and innovation promotion agency, in establishing its presence in Basel. Provectis co-founder Swaroop Vakkalanka had already made use of their service to bring Rhizen Pharmaceutical AG, of which he is the founder and CEO, to Basel in 2020.