Yabao Pharmaceutical and UniSA embark on joint venture
pharmafile | September 9, 2015 | News story | Research and Development | Cancer, Yabao Pharmaceutical
Yabao Pharmaceutical and the University of South Australia (UniSA) have joined together in a collaboration to develop new treatments for cancer in a joint drug discovery laboratory.
UniSA will play the role of identifying drug candidates in a co-funded laboratory led by the university’s professor Shudong Wang.
Wang, head of Centre for Drug Discovery and Development at UniSA, says: “The financial resources resulting from this agreement will help to rapidly advance our drug discovery towards clinical development, a goal we all share.”
Yabao Pharmaceuticals will fund the drug discovery and development in exchange for exclusive rights to develop and commercialise the drug candidates in China. However, the University of South Australia will retain rights in all other markets.
Yabao Pharmaceutical’s president of R&D, Dr Peng Wang, says “We are thrilled to have the opportunity to work with the University of South Australia’s highly regarded scientists and laboratories to jointly find a way to develop important new treatments for cancer patients.”
Vice chancellor and president of UniSA, professor David Lloyd, says: “We are thrilled to have forged such a strong collaboration in China that will enhance the development of new therapies for cancer, a disease that continues to present one of our greatest global challenges,”
Last year, the Chinese pharma firm entered a collaboration with the UK’s independent medical research charity, MRC Technology, to focus on the development of drugs for Parkinson’s disease.
Yasmita Kumar
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