Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Invests $2 Million In Adgero Biopharmaceuticals Holdings, Inc. Of The U.S.

Shanghai Fudan-Zhangjiang Bio-Pharma invested $2 million into Adgero Biopharma of New Jersey. Adgero is developing a photodynamic therapy platform to treat cancer indications. PDT uses light sensitive compounds, or photosensitizers, which produce oxygen when exposed to specific wavelengths of light, inducing cell death locally. According to Adgero, it hopes FDZJ will eventually license China rights to its technology, though the current agreement does not include this provision. FDZJ has already developed two approved PDT therapies in China.