Shanghai Pharmaceuticals (HKG: 2607, SHA: 601607), a leading Chinese pharmaceutical company, has entered into a memorandum of understanding to collaborate with Hong Kong Science & Technology Park (HKSTP) and Shanghai Biomedicine Fund, a RMB 50 billion (USD 11.44 billion) municipal industry fund approved by the Shanghai government and initiated by Shanghai Industrial Investment (Holdings) Co., Ltd.
Collaboration Focus
The collaboration will focus on incubation and investment in startups, clinical research, contract research organizations (CROs), and contract development and manufacturing organizations (CDMOs). Specific areas of interest include new incubation modes in autoimmune diseases, anti – aging, gene and cell therapy, messenger ribonucleic acid (mRNA), and small molecule interfering ribonucleic acid (siRNA). The partners plan to establish a USD fund and facilitate the building of a global innovation technology center in Hong Kong. Financial details of the collaboration were not disclosed.-Fineline Info & Tech
