NEW YORK: Chandler Chicco Agency (CCA) has launched a new company, Biosector 2. It will be led by global director Gloria Janata, and headquartered in both New York and London.
CCA says there will not be any overlap in clients because Biosector 2 will cater to the needs of smaller pharmaceutical, biotechnology, and medical-device companies - unlike its parent agency, which deals primarily with large pharmaceutical companies. "Our ambition is to build a company totally independent of CCA, said Gianfranco Chicco, principal of CCA.
Among other differences, the new agency will offer IR services, while CCA does not. "Traditionally, we would have turned smaller-cap clients down because they did not fit our profile, explained Chicco. "These companies often have very specific IR needs because they have the priority of telling their stories to investors and analysts. Biosector 2 can offer them that."
CCA feels the new agency "reflects the way innovation is happening in the healthcare industry, said Chicco. Recent acquisitions of Noonan Russo by Presence Euro RSCG and Feinstein Kean by Ogilvy have left "a void in our industry, which CCA anticipates filling with its new enterprise.
Biosector 2 expects fees to reach $1.5 million in its first year, and anticipates closing 2002 with 12 staff members.