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Scots firms in China R&D link-up
09/04/2008
Scottish pharmaceutical development companies are poised to take a share of the growing Asian market with the signing of collaborative research deals with Chinese counterparts.
Oban-based GlycoMar and Glasgow-based Scottish Biomedical have signed agreements with Chinese pharmaceutical giant Asiapharm to test and potentially license a number of their lead therapeutic products. The GlycoMar products have potential for the treatment of cardiovascular disease, while the Scottish Biomedical drugs could treat debilitating psychotic disorders such as schizophrenia.
If successful these "Scottish" drugs, could bring significant revenue back to the Scottish companies and open up a platform for further long term collaboration.
Welcoming the deal while meeting Asiapharm representatives in Shandong Province, China, Education and Lifelong Learning Cabinet Secretary Fiona Hyslop said:
"We are determined to drive forward sustainable economic growth for Scotland and China presents an enormous opportunity for us.
"Stronger ties in education, science research, culture and business between the two countries will benefit us both.
"Scotland is already a genuine centre of excellence for life sciences. Scotland's life sciences industry is one of the most vibrant in Europe - with around 600 organisations employing over 30,000 people.
"By making links all the way from Oban to Shandong, this collaboration shows that Scottish firms have the ability to compete effectively on the world stage."
Jason Grant from the Scottish Development International (SDI) Life Sciences team who hosted Asiapharm's visit to Scotland in August 2007 said:
"We are delighted to see the fruits of Asiapharm's discussion with Scotland and look forward to supporting other Scottish companies to explore opportunities for collaboration with China's Life Sciences sector."
Stephen Hammond, founder and CEO of Scottish Biomedical said:
"We are pleased to be working with Asiapharm in developing new more effective treatments for schizophrenia a debilitating disease that destroys the lives of millions of people throughout the world."
Under the terms of the deal, Asiapharm will carry out trials and further development of the products. If successful, Asiapharm will licence these products for sale in the Chinese market.
Fiona Hyslop is visiting China from April 5-12, to strengthen our engagement with the country, with a particular focus on developing existing and new educational, research and scientific links.
Scottish Development International works to attract inward investment and knowledge to Scotland in order to help the economy grow. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live, work and do business. It is jointly operated by the Scottish Government and Scottish Enterprise. Its work is guided by the Scottish Government's strategy for economic development in Scotland.
Asiapharm was established in 1994 and listed in the Singapore market, Asiapharm is today one of the leading specialty pharmaceutical groups in the People's Republic of China (PRC). The company specialises in the research, development, production and sale of pharmaceutical drugs and new formulations for chemical drugs, the sale of R&D results and patents for new drugs, and the provision of research services on a contract basis. SDI hosted Asiapharm's visit to Scotland in August 2007.
Scottish Biomedical is a preclinical drug discovery services company located in Glasgow, Scotland. Established in 1994, its 60 researchers have world-class expertise in molecular biology, protein technology, assay development, high-throughput & high-content screening, medicinal chemistry and pharmacology. By integrating expertise in cell systems biology with medicinal chemistry, Scottish Biomedical has been able to establish over 150 successful drug discovery collaborations with pharmaceutical/biotech clients throughout the world.
GlycoMar is an Oban-based innovative biotechnology company developing treatments for inflammatory diseases that have unmet clinical needs. GlycoMar distinguishes itself from other biotechnology companies by focusing on marine glycobiology - giving it unique access to a class of proprietary novel molecules with invaluable biological profiles. The company is currently raising investment to progress lead anti-inflammatory compounds into clinical development.