SHANGHAI, Feb. 9, 2021 /PRNewswire/ — Yingli Pharma announced today that it reached strategic collaboration with Hengrui Medicine (600276.SH), a partnership which will significantly accelerate the expansion of Yingli Pharma’s oncology business in China, the second largest pharmaceutical market in the world. As an innovation-driven enterprise, Yingli Pharma demonstrates commitment to continuous investment in R&D and is committed to the research, development and commercialization of new drugs for hematological tumors, solid tumors and kidney-related metabolic diseases.
As part of the cooperation:
- Hengrui Medicine will invest USD 20 million in Yingli Pharma as an equity investment.
- Yingli Pharma will grant Hengrui Medicine joint development rights and exclusive commercialization rights of PI3kδ inhibitor YY-20394 in Greater China.
“The collaboration with Hengrui Medicine is a significant milestone that will enable Yingli Pharma to further promote the commercialization of developed innovative drugs. It also demonstrates the confidence mature industrial investors have in our product pipeline and innovative drug R&D, and fully recognizes the strategic vision of Yingli Pharma to build a leading international biopharmaceutical company,” said Dr. Xu Zusheng, Co-founder of Yingli Pharma.
“Hengrui Medicine has extensive commercial operation and clinical development capabilities in China which are implemented in accordance with international quality standards. It is an ideal strategic partner in the commercialization process of Yingli Pharma. We will work together to bring benefits to more patients in China and around the world,” he added.
Dr. Zhang Lianshan, Senior Deputy General Manager and President of Global R&D of Hengrui Medicine, said, “There are about 4 million newly diagnosed cancer patients in China every year, and there is an urgent need for innovative drugs and regimens for cancer treatment. The oncology market has become one of the fastest-growing fields in the whole pharmaceutical market. It is believed that the cooperation between Hengrui Medicine and Yingli Pharma will bring meaningful changes to the lives of millions of cancer patients in China and even around the world. This collaboration will further enrich the layout of Hengrui Medicine in the field of hematological tumor and oncology and supplement the existing product line.”
About Yingli Pharma
Established in 2011, Shanghai Yingli Pharma is a small-molecule innovation drug research and development company rooted in China and with a global vision. The company focuses on the development and commercialization of innovative small-molecule drugs for hematological tumors, solid tumors and kidney-related metabolic diseases. Yingli Pharma has a full-featured new drug R&D center in Zhangjiang, Shanghai, and has a number of international leading R&D pipelines in clinical and preclinical stages.
About Hengrui Medicine
Hengrui Medicine, founded in 1970 and listed on the Shanghai Stock Exchange in 2000, is a medical and health business engaged in medical innovation and research, development, production and promotion of high-quality drugs.
SOURCE Yingli Pharma