Chinese contract drug developer ShangPharma is planning to invest $60 million to build a biologics research and manufacturing outpost near its home base in Shanghai.
With the funds, ShangPharma will construct two facilities: a preclinical research operation focused on large-molecule therapeutics, and a manufacturing plant that can produce biologics at commercial scale. ChemPartner, ShangPharma's CRO division, will run the research operation, while China Gateway Biologics, the conglomerate's CMO arm, will handle manufacturing.
The new facilities are slated for the Qidong Biopharma Industrial Zone, a government-sponsored hub located across the Yangtze River from Shanghai. ShangPharma expects to open its expansion in early 2018.
Reaching into Qidong is part of ShangPharma's long-running efforts to recruit more biopharma partners from around the world, CEO Michael Hui said in a statement.
"The investment offers China Gateway Biologics the opportunity to grow to the next level as a full biopharmaceutical service provider from preclinical development to commercial scale," Hui said. "We strongly believe the state-of-the-art, single-use facility conforming to Western standards will be able to support our international client base."
- read the statement