TOKYO—November 21, 2007—As Chinese affiliate Shanghai Genomics prepares to initiate a Phase I clinical trial, GNI Ltd. announced it has received IND approval for F351, its candidate drug for liver fibrosis/cirrhosis. The approval comes just weeks after the companies received regional patent rights to the drug from China's Patent and Trademark Office. According to Dr. Ying Luo, CEO for both companies, liver disease is a major healthcare challenge in Asia.
Tokyo—Shanghai Genomics Inc., the China-based affiliate of GNI and one of China's leading biotech companies, has agreed to collaborate on a drug discovery research project with Centocor, Inc. a U.S.-based biopharmaceutical company with a global business in monoclonal antibody production and technology. The collaboration, which will involve biological research aimed at understanding inflammatory signaling pathways, will initially last for a period of 18 months.
"Shanghai Genomics is delighted to be collaborating with Centocor on this exciting project," says Ying Luo, president and CEO of Shanghai Genomics and president and COO of GNI. "This is yet another validation of the model we have refined with GNI, where we are the first company to combine innovative Western science with cost-efficient research capabilities in China, and access to the Chinese and Japanese pharmaceutical markets."
Shanghai Genomics will use its expertise in protein purification and cell-based interaction assays to explore receptor protein interactions and intracellular signaling cascades with Centocor. In particular, the research will focus upon the areas of inflammation and oncology.
Utilizing what it calls a "highly efficient yet cost-effective technology platform," Shanghai Genomics has entered into and completed many research-based collaborations with international partners such as Centocor. These collaborations with international partners form a crucial pillar of Shanghai Genomics' business and complement the drug discovery work the company conducts with GNI.
Shanghai Genomics was founded in August 2001, by returned overseas biotech veterans, Drs. Ying Luo and Jun Wu, with funding from two Chinese venture capital funds—Shanghai Venture Capital Company and Shanghai Zhangjiang Hi-Tech Park Corp.