New collaboration will focus on the development of new treatments for cancer
One of China’s leading pharmaceutical companies, Yabao Pharmaceuticals, and South Australia’s largest university, the University of South Australia, have announced an important 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 will provide significant cash and in-kind contributions for drug discovery and development and will retain exclusive rights to develop and commercialise the drug candidates in China; the University of South Australia will retain rights in all other markets.
Dr Peng Wang, President of R&D, Yabao Pharmaceuticals, says the company is constantly seeking to build relationships with organisations that have innovative programmes that complement Yabao’s development and commercial capabilities. ‘We are thrilled 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,’ he said.
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 delighted 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,’ he added.
Professor Shudong Wang stated that she is looking forward to a productive collaboration with Yabao, which brings a strong commitment to the university’s drug discovery programme. ‘The financial resources resulting from this agreement will help to rapidly advance our drug discovery towards clinical development, a goal we all share,’ she said.