BEIJING & ADELAIDE, Australia--(BUSINESS WIRE)--One of China’s leading pharmaceutical companies, Yabao Pharmaceutical Co, Inc. (Shanghai Stock Exchange 600351) and South Australia’s largest university, the University of South Australia, today announced an important new collaboration to develop new treatments for cancer.
Under the terms of the agreement, the University of South Australia will identify drug candidates in a co-funded laboratory led by the University’s Professor Shudong Wang.
Yabao Pharmaceuticals will provide significant contributions including cash and in-kind towards the drug discovery and development and it will have an exclusive rights to develop and commercialise the drug candidates in China, while University of South Australia will retain rights in all other markets.
President of R&D, Yabao Pharmaceutical Co. Dr Peng Wang says Yabao is constantly seeking to build relationships with organisations that have innovative programs that complement the company’s development and commercial capabilities.
“We are thrilled to have the opportunity to work with the University of South Australia’s highly regarded scientists and laboratories to jointly find a way to develop important new treatments for cancer patients.”
Vice Chancellor and President of the University of South Australia, Professor David Lloyd says there are no international barriers to great research and development.
“We are thrilled to have forged such a strong collaboration in China that will enhance the development of new therapies for cancer, a disease that continues to present one of our greatest global challenges,” Prof Lloyd says.
“We look forward to working closely with Yabao Pharmaceuticals with the shared goal of developing novel anti-cancer agents to patients in China and globally.”
Head of Centre for Drug Discovery and Development at the University of South Australia Professor Shudong Wang says she is looking forward to a productive collaboration with Yabao, which brings a strong commitment to the Centre’s drug discovery program.
“The financial resources resulting from this agreement will help to rapidly advance our drug discovery towards clinical development, a goal we all share.”
About Yabao Pharmaceutical Co.
Yabao Pharmaceutical Co. (Shanghai Stock Exchange 600351) is a leading China pharmaceutical company with fully integrated development, manufacturing, and commercialization in China. Yabao is recently pursuing strategic development of innovative pharmaceuticals in addition to Yabao's well-established business in modern traditional Chinese medicines and chemical generics. In addition to strong clinical and regulatory capabilities, Yabao has strong capabilities in formulation and API production and meets good manufacturing practice (cGMP) requirements with a manufacturing site approved by the U.S. FDA and another by a European agency. For more information about Yabao Pharmaceutical Co., please visit www.yabao.com.cn
About the University of South Australia
The University of South Australia is a globally-focused, locally-engaged institution established on the dual principles of equity and excellence.
With more than 33,000 students in Australia and around the world, the University is South Australia’s largest and was the youngest Australian institution to be named in the top 50 of 2014 the Times Higher Education’s Top 100 global universities aged under 50.
The University has a strong education and research tradition in the health sciences and is the state’s leading provider of pharmacology and pharmacy education. UniSA has made a $230 million dollar investment in new health and pharmaceutical research facilities in the heart of Adelaide new health and biomedical research precinct.