For a long time, Yabao Pharmaceutical Group Co., Ltd. (hereinafter referred to as Yabao) has been constantly exploring the road of transformation. This time, Yabao has established a new branch through venture capital. Yabao aims to promote it to the ranks of global new drug R & D through venture capital in the near future. The new company Suzhou Yabao pharmaceutical R & D Co., Ltd. (hereinafter referred to as Suzhou Yabao) is mainly responsible for introducing the rights and interests of the project in China and carrying out early development. The experimental data provided to third parties are based on the global quality standard, and strive to accelerate the process of global development.
Yabao, a traditional Chinese medicine pharmaceutical enterprise, is exploring ways to participate in the R & D of innovative drugs, and Suzhou Yabao, as the executor of Yabao's R & D of innovative drugs, was established in 2014. At present, Suzhou Yabao has successfully introduced five projects from academic institutions and pharmaceutical companies. According to the company's CEO and CSO Dr. Wang Peng, two or three more projects are expected to be added by the end of this year.
Dr. Wang Peng said that he is working to build a system integrating projects at different stages. These projects are either in the research stage of new targets or have passed the verification that the targets have real rising potential. The sepsis project introduced from Lawson Institute of health is a case in the stage of new target research. The project is a drug targeting recombinant proteins. Suzhou Yabao plans to apply for clinical trial authorization (CTA) for this project in China in 2016.
Dr. Wang Peng said that ls-008 project belongs to the latter category, and its target has been verified and has good rising potential. Suzhou Yabao has the authorization from Changzhou yinnuo Shengkang Biomedical Technology Co., Ltd. for the dual target inhibitors of phosphomuscle 3-kinase (PI3K) and polo like kinase 1 (Plk1; stpk13) in China. Early next year, Suzhou Yabao plans to submit an application to start the phase 1 clinical trial of the antitumor drug in China and Australia.
The Suzhou Albo project also has a glucokinase agonist developed in collaboration with Lilly, which has completed the 1 phase clinical trial for type II diabetes. The targeted kinase inhibitor project for the treatment of Parkinson's disease developed in cooperation with the National Academy of medicine is in the lead compound optimization stage.
The fifth project is a targeted monoclonal antibody drug in the preclinical development stage related to the cardiovascular field.
Suzhou Yabao has the rights and interests of the Chinese side of the project and develops the project under the guidance of clinical proof of concept in China. Dr. Wang Peng said that he hoped that the experimental data of Suzhou Yabao could be directly adopted by our global cooperative development partners and used for rapid start-up abroad without repeated experiments. After the clinical proof of concept, Dr. Wang Peng said that Suzhou Yabao hoped to "continue to participate in the global development process driven by partners," but he declined to disclose more details.
Dr. Wang Peng aims to reach an agreement that Suzhou Yabao will pay a commission on the sales of products in China to foreign partners, and foreign partners will pay a commission on the sales of our products abroad. For the projects of academic institutions, Dr. Wang Peng said that Suzhou Yabao and academic partners will make every effort to find partners who can transfer global interests, so that both sides can get sales commission. For non priority pharmaceutical projects, Dr. Wang Peng said: we expect pharmaceutical partners to continue to promote the development process of drugs in the global market in China.
Although several Chinese companies are now seeking development licenses in China, Dr. Wang Peng said: "Suzhou Yabao and its partnership will be a major advantage of Yabao." this partnership allows partners to take advantage of Yabao's development, management and commercial resources. Once Suzhou Yabao becomes an independent company, Dr. Wang Peng said that the company's resources may not be the same as now, but these resources are still open to partners.
Dr. Wang Peng is the vice president of the group company and the president of Suzhou Yabao company, and has 20 years of R & D experience in Schering plough (now part of Merck). After returning home, he served as Strategic Officer of Xiansheng Pharmaceutical Group and vice president of Wuxi apptec biology department. Subsequently, he joined Suzhou Yabao in 2013.
Dr. Wang Peng said that Yabao's independent corporate behavior of Suzhou Yabao is not to abandon those risky projects. Considering the objective situation, Yabao does not have enough funds to promote the simultaneous development of more than 3 to 4 clinical projects. At the same time, we hope to have some innovative projects.
Dr. Wang Peng said that Suzhou Yabao is discussing the project plan with investors, but he will refuse to disclose the target or time frame for risk reasons. According to Dr. Wang Peng, Yabao hopes to maintain 35% - 40% equity
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