SAN DIEGO, Jan. 18, 2012 /PRNewswire/ -- HUYA Bioscience International today announced a strategic partnership agreement with the Tianjin Institute of Pharmaceutical Research (TIPR). HUYA is a leader in globalizing China's biopharmaceutical innovations and TIPR is one of the leading pharmaceutical research institutes in China. The collaborative agreement will combine both parties' strengths in promoting the advancement of China's drug innovations.
HUYA is one of the first companies to have recognized China's potential to meet the global need for new drug compounds. Through a series of strategic collaborations with leading universities and research institutions in China, HUYA has pioneered a co-development model of identifying and licensing promising preclinical and early clinical stage compounds from China, utilizing its expertise to advance these compounds for global development. Through this, HUYA facilitates and promotes the global development and commercialization of novel pharmaceutical products originating in China.
The Tianjin Institute of Pharmaceutical Research is among the oldest and most prestigious research institutions in China. It was originally established by the State Food and Drug Administration in 1959, and is now a wholly state-owned organization, focusing on new drug innovation and development. With substantial experience in both western and traditional Chinese medicine development, TIPR has positioned itself as a major force in drug innovation and development in China. In addition to its many basic research and educational facilities, TIPR also includes a number of pharmaceutical manufacturing enterprises which allow it to see a drug candidate from the early discovery stage all the way though clinical trials.
Under the agreement, HUYA and TIPR will collaborate to promote new drug development in China and worldwide. HUYA will have the first opportunity to evaluate certain research and development projects conducted at TIPR, and to provide support and assistance as needed. With its unique co-development model and worldwide pharmaceutical partners, HUYA will help globalize select programs from TIPR.
"The Tianjin Institute of Pharmaceutical Research is exactly the kind of top-level partner we are seeking in China," said Clement Gingras, HUYA's CTO and COO, China. "This partnership is an honor and we are looking forward to working together to accelerate innovative drug development in China."
Dr. Lida Tang, president of TIPR, believes a strategic partnership with HUYA can help take TIPR-developed compounds to the next level in development, testing, and commercialization. "There is no doubt we have the scientific basis to come up with novel drug compounds. With HUYA we now have the international expertise to make a global impact."
ABOUT HUYA BIOSCIENCE INTERNATIONAL
HUYA is a leader in global pharmaceutical co-development with Chinese partners. With eight offices strategically located across China, the most comprehensive Chinese compound portfolio in the world, and a rapidly growing number of exclusive agreements with premier Chinese research and development organizations, HUYA occupies a unique position with regards to the China bio-pharmaceutical industry. HUYA's strategy is to identify and license novel Chinese compounds and to offer Western pharmaceutical companies efficient and comprehensive access to innovative therapeutic opportunities. HUYA's experience with this market means it can dramatically reduce deal-making complexity in China. HUYA has become a champion of guiding China's biomedical innovations to the worldwide marketplace. HUYA is jointly headquartered in San Diego, CA and in Shanghai. Additional information is available at www.huyabio.com.
ABOUT TIANJIN INSTITUTE OF PHARMACEUTICAL RESEARCH (TIPR)
TIPR is located in the northern Chinese industrial powerhouse of Tianjin, 69 miles east of Beijing. Tianjin is the sixth-largest city in China and is one of four cities in China under the direct administration of the central government. Its new city, known as Binhai New Area, is a rapidly developing industrial zone with an annual growth rate of nearly 30%. TIPR itself consists of seven major research divisions, including a center for drug innovation, a Medicinal Chemistry Department, a Traditional Chinese Medicine Department, a Center for Pharmaceutical Formulation Technology and Engineering Support and a Center for Drug Evaluation. In recent years TIPR has been engaged in over 100 special projects of key novel drug innovations designated as national priorities. It has also received over 200 new drug certificates, including small molecules, Chinese medicines and biological drugs. Additional information is available at www.tjipr.com.
Yung-Chih Wang, Ph.D., MBA
Vice President, Corporate Development, China
HUYA Bioscience International
Ping Yang, MS
Business Development Manager
HUYA Bioscience International
SOURCE HUYA Bioscience International