Crown Bioscience, Inc. and Beijing Purunao Team Up to Develop Cancer Drugs

by Richard Daverman, PhD

November 27, 2012 -- Crown Bioscience will join with Beijing Purunao Biotech Co. to develop small molecule drugs aimed at oncology targets. Crown Bio is a US-headquartered pre-clinical CRO specializing in cancer drugs with labs in China and the US; Purunao is a wholly-owned subsidiary of Sichuan Hengkang Development. The goal of the partnership is to develop and commercialize the drugs in China first and then take them to global markets. Crown Bioscience will receive an upfront payment for transferring its patents to the partnership and also will be given payments for attaining milestones. More details....