HUYA Bioscience International and Wuhan National Bio-industry Base Form Alliance to Help Accelerate China's Bio-Industry Development
SAN DIEGO, March 8, 2011 /PRNewswire/ -- HUYA Bioscience International, a leader in globalizing China's pharmaceutical innovations, today announced a strategic alliance with Wuhan National Bio-industry Base, also known as Biolake. The alliance is expected to combine both parties' resources to accelerate the development of pharmaceutical discoveries from China.
HUYA is one of the first companies to have recognized China's potential to help meet the global need for new preclinical and clinical stage compounds. The company is committed to enabling and promoting the global development and commercialization of novel pharmaceutical products originating in China. HUYA has established a series of collaborations with leading universities and research institutions throughout China and has pioneered in-licensing clinical stage compounds from the country, utilizing HUYA's expertise to advance these compounds for international markets.
Biolake is a national-level industry base established at the Wuhan East Lake Hi-tech Development Zone in Wuhan, the capital of the Hubei province and home to many academic and research institutions. Since the start of its construction in November 2008, Biolake has developed quickly and attracted more than 300 domestic and foreign bioscience enterprises to its campus. The park has been building the New Drug Incubation Public Service Platform, aiming to provide all-in-one solutions and one-stop services to facilitate industrialization and commercialization processes of new drugs.
Under the agreement, Biolake and HUYA will collaborate to promote new drug development. HUYA will have the first opportunity to provide assistance in evaluating research and development projects conducted by pharmaceutical enterprises residing in Biolake. HUYA will also be able to globalize select programs from Biolake through HUYA's innovative co-development model and worldwide pharmaceutical partners.
"This exciting agreement with Wuhan Biolake stemmed from our shared commitment to developing China's pharmaceutical innovation in accordance with international standards," said Clement Gingras, HUYA's CTO and COO, China. "We look forward to working with Biolake to help identify promising product opportunities and accelerate their global development."
Zhongning Yan, Deputy Vice Director of Wuhan National Bio-industry Base, remarked, "We are very pleased to build a collaborative relationship with HUYA. Biolake aims to become an international leading bio-industry cluster that provides top quality support to companies and institutions in the park. Partnering with HUYA will enhance our effort to achieve that goal, which will benefit all our collaborators and partners."
ABOUT HUYA BIOSCIENCE INTERNATIONAL
HUYA is the leader in global pharmaceutical co-development with Chinese partners. With seven offices strategically located in China, the most comprehensive Chinese compound portfolio, and a rapidly growing number of exclusive agreements with premier Chinese research and development organizations, HUYA is uniquely positioned to identify and license novel Chinese compounds. HUYA offers Western pharmaceutical companies efficient access to innovative therapeutic opportunities and helps to reduce deal-making complexity in China. The company has become a champion of guiding China's biomedical innovations to the worldwide marketplace. HUYA has joint headquarter offices in San Diego, CA, USA and Shanghai, China. Additional information about the company is available at www.huyabio.com.
Wuhan National Bio-industry Base (Biolake) supports biopharmaceutical industry development in Wuhan East Lake High-Tech Development Zone (WEHDZ), which is located in central China. In 2007, the National Development Reform Commission approved Biolake. Plans include a 12 square km area set aside to construct the park and the investment of US $2.2 billion within 3-5 years to build the Bio-industry Innovation Base and Industry Base. The vision behind the policy is to make Biolake a comprehensive bio-hub with global influence and create a catalyst for further development of WEHDZ. Biolake will eventually form four functional parks for companies including emerging biotechnologies (innovation), bio-pharmaceuticals, bio-agriculture, and medical devices. For more information, please visit http://www.biolake.gov.cn/.
Yung-Chih Wang, Ph.D., MBA
Vice President, Corporate Development, China
HUYA Bioscience International, LLC
Qing (Vicky) Xia, MS, MBA
Senior Business Development Manager
HUYA Bioscience International, LLC
SOURCE HUYA Bioscience International