BEIJING and LONDON, Nov. 21, 2014 (GLOBE NEWSWIRE) -- Yabao Pharmaceutical Co, Inc. (Shanghai Stock Exchange 600351), a leading pharmaceutical company in China, today announced an exclusive license with MRC Technology, a medical research charity, to discover, develop and commercialise innovative products targeting a kinase target for neurodegeneration for the treatment of Parkinson's disease.
Under the terms of the agreement, Yabao receives exclusive rights to discover, develop and commercialise in China, Taiwan and Hong Kong while MRC Technology retains rights in all other markets. Financial terms were not disclosed.
"Yabao is pleased to be collaborating with MRC Technology, a leading UK research institute focused on improving the lives of patients through medical discovery," commented Dr. Peng Wang, President R&D, Yabao Pharmaceutical Co. "This opportunity for Yabao to expand on leading research to develop innovative products is further evidence of Yabao's growing commitment to partner the best science to treat serious diseases in China."
Michael Dalrymple, Director, Business Development at MRC Technology said:
"Parkinson's is a debilitating and destructive disease. We are pleased to combine our expertise in early drug discovery and innovation with the significant resources that Yabao Pharmaceutical Co. can bring to developing ground breaking new medicines. Together we hope to achieve more to bring innovative treatments to patients and improve their quality of life."
About Yabao Pharmaceutical Co.
Yabao Pharmaceutical Co. (Shanghai Stock Exchange 600351) is a leading China pharmaceutical company with fully-integrated development, manufacturing, and commercialization in China. Yabao is recently pursuing strategic development of innovative pharmaceuticals in addition to Yabao's well-established business in modern traditional Chinese medicines and chemical generics. In addition to strong clinical and regulatory capabilities, Yabao has strong capabilities in formulation and API production and meets good manufacturing practice (cGMP) requirements with a manufacturing site approved by US FDA and another awaiting inspection by the European agency. For more information about Yabao Pharmaceutical Co., please visit www.yabao.com.cn
About MRC Technology
MRC Technology (www.mrctechnology.org) is an independent life science technology transfer charity, offering professional services to organisations within the academic, charity, biotechnology and pharmaceutical sectors globally. Services include IP management and research and development for diagnostics, small molecules and therapeutic antibodies. MRC Technology bridges the gap between basic medical research and commercialisation, helping early discoveries progress to clinical application.
CONTACT: Name: Ms. Weina Liu
Email: [email protected]