Chinese Companies’ JV for Developing Innovative Drugs

| By | Chinese Pharma, joint venture

Shanghai HaiHe Biopharma Co., Ltd., which focuses on the discovery, development and commercialization of innovative drugs for cancer, and China’s famous pharmaceutical group, China Shijiazhuang Holding Group Co., Ltd. (hereinafter referred to as “CSPC”) announced that the two sides have reached a strategic collaborating agreement to form a joint venture company to co-develop five innovative drug projects of HaiHe Biopharma: RMX1001, RMX1002, RMX2001, HH185 and CDK4/6i.

We are very pleased to work with the fully reinforced mega pharmaceutical companies such as CSPC to form a joint venture to co-develop and commercialize five projects of HaiHe.” Academician Jian Ding, Chairman of HaiHe Biopharma, commented. “This collaboration represents HaiHe’s R&D capability has been recognized by the industry. The joint venture company will give full play to HaiHe’s science-driven innovative R&D capabilities and CSPC’s extensive experience in manufacture and marketing to achieve strong alliances. Focusing on R&D, manufacture and marketing of original Chinese innovative drugs, we will accelerate the development and marketization of drugs based on our existing core competencies and areas of expertise to meet the clinical needs of more patients.”

Dongchen Cai, Chairman of CSPC, said: “In recent years, as one of the most innovative pharmaceutical groups in China, CSPC has vigorously developed innovative drug R&D, and has rapidly promoted the transformation and upgrading of the group. The formation of the joint venture company will be an important milestone for our commitment of “All for good medicine, all for mankind’s health.” We look forward to complementing the advantages of HaiHe, and sincerely collaborate to continue to use “innovation” and “internationalization” as the two driving engines to advance more innovative drugs made in China to enter the international market.