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Contract Drug Development Resource, goBalto, Launches New Web-Based Platform, goBalto.com
Date:4/21/2009

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"In today's highly competitive marketplace, it's critical to be able to find quality partners that can reduce your costs of drug development and time-to-market," said Dr. Cary Queen, Co-Founder of Protein Design Labs. "The goBalto platform provides members with the transparency and ability to quickly identify and evaluate new partners via a rating system that includes rich vendor profiles."

"goBalto provides a great platform for showcasing our drug development and manufacturing capabilities to biotech and pharmaceutical companies around the globe," said Kiran-Mazumdar Shaw, Chairman and Managing Director of Biocon Limited. "The goBalto partnering website provides us with a highly cost-effective channel to reach our target customers compared to traditional options such as industry conferences and advertising."

According to market research company Kalorama, the market for contract manufacturing of prescription drugs exceeded $30 billion last year, a 10% increase over the previous year. "The sheer numbers of biologics in the pipeline are driving drug makers to outsource specialized production rather than build new plants," according to Kalorama.

"Most existing sites are "one-way" distributors of content from the publisher to the user," said Mr. Chung. "But users today are seeking a more collaborative platform. We're not only improving transparency, but incorporating the latest in Web social media tools to enable users to share their collective experiences on topics ranging from vendors to regions in which to conduct trials."

About Jae Chung, Founder and CEO

Jae Chung founded goBalto in October 2008. Prior to goBalto, he co-founded Celltrion,
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SOURCE goBalto
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