Kodak Pharma has launched a new drug development and manufacturing arm, called Recursion, with plans to develop new anti-cancer drugs and new products in response to the Ebola pandemic.
The company said that it had acquired Recursion Pharma to “build on our strength in developing and commercialising novel anti-aging and immunotherapy drugs in Africa.”
Kodak Pharma CEO David Stover, speaking on CNBC on Wednesday, said the company plans to focus on “additional pharmaceutical development and development programs” in Africa, the Caribbean and Latin America, the AP reported.
Recursion Pharma will focus on developing and producing novel anti -cancer drugs in African nations, including Sierra Leone, Guinea and Liberia, the company said in a statement.
It also plans to invest in developing innovative vaccines for diseases like Ebola, HIV/AIDS and malaria.
The acquisition, which comes just days after the company announced its first drug approval, will provide Kodak with additional opportunities to develop and commercialise new therapies in the region, according to Stover.
The investment is also expected to help the company to expand its existing manufacturing capabilities and accelerate the development of new pharmaceuticals.
Kodaker is a global pharmaceutical company with operations in 35 countries, according its website.
The world’s largest camera maker said in January that it planned to double its manufacturing capacity in the coming years, adding that it plans to “ensure that we are able to scale up in response” to the pandemic, Reuters reported.
The U.S. is the world’s second-largest producer of cameras, behind only China, according the company.