SAN FRANCISCO, CA May 1, 2009 goBalto, an online drug development partnering site for the pharmaceutical development and drug manufacturing industry, announced today that ChinaBio LLC is making its proprietary list of over 260 China-based Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) available on goBalto.com. goBalto recently launched their web-based platform that enables members to quickly and efficiently find partners, share knowledge and discover opportunities.
ChinaBio tracks the biotech and life science industries in China, one of the leading countries for clinical trials outsourcing. Its proprietary list of CROs and CMOs listed on goBalto is divided into two categories: Sourced by ChinaBio and Reviewed by ChinaBio. The Sourced by designation indicates that ChinaBio has identified these CROs and CMOs as actively operating in China and that information on the company is maintained in its database. Reviewed by indicates that ChinaBio has visited the facility, met with senior management and reviewed the companys specific capabilities. Over 40 of the CROs/CMOs listed on goBalto have been reviewed to date.
Were delighted that ChinaBio, a leading consultancy in China, has agreed to make its proprietary list available to the goBalto community, said Jae Chung, founder and CEO, goBalto. Interfacing ChinaBios list to our platform enables users to more quickly and easily evaluate the leading CROs and CMOs in the region and become informed about the exciting, high-growth china market.
goBalto is providing a very valuable service to the drug development community, and were happy to be part of their long term strategy stated Greg Scott, founder and CEO of ChinaBio. Through our consulting practice, we work with major pharmas and other companies to identify CROs and CMOs in China that meet their specific needs, and then monitor the projects to help ensure high quality delivery, and goBalto will be an important part of this process.
According to a recent PricewaterhouseCoopers study, the CRO market in China was $186 million in 2007, up 38 percent from the year before. Driven mainly by outsourcing from international firms, it is projected to grow at an estimated 33.5 percent annually, bringing the market to nearly $791 million in 2012. The global CRO market is growing at a much slower 12.6% per year.
The ChinaBio list adds over 260 CROs and CMOs to the list of over 7,000 potential service providers goBalto has assembled and profiled based on technical capabilities, regulatory compliance, facilities, equipment and other factors. The goBalto platform allows users to rate companies, post comments to vendors and evaluate service providers.
About goBalto
goBalto is a dedicated online drug development partnering site for the pharmaceutical and drug manufacturing industry. Users can identify, evaluate, and manage drug-development partners from around the world. Incorporating the latest in Web 2.0 technologies, goBaltos platform enables users to distinguish their offerings by adding logos, images, videos, customer testimonials and post referrals from members. More than 7,000 service providers are currently listed.
About ChinaBio LLC
ChinaBio LLC is a leading consultancy focused exclusively on the China life science industry. It assists companies with CRO/CMO selection and project management, technology searches, and cross-border partnering. ChinaBio also organizes investment and partnering conferences in China and publishes the ChinaBio Today newsletter with over 17,000 readers.
