Immtech Pharmaceuticals and Beijing Capital Medical University Announce Joint Venture to Provide Contract Research Service...( NEW YORK June 18 /- Immtech Pharm...)

NEW YORK, June 18 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals (AMEX: IMM) and Beijing Capital Medical University (BCMU) in Beijing, one of China's leading academic medical research centers, today announced that they have signed a Memorandum of Understanding to develop a joint venture to provide contract research services (CRS) in China. The joint venture will provide a range of services in drug discovery research for international companies and research organizations seeking to develop and market pharmaceutical products and biologics.

"Immtech brings extensive experience in clinical development programs conducted at multiple sites around the world to our joint venture with BCMU, which ranks among the top academic medical institutions in China. By combining our complementary resources and expertise, we will deliver high-quality research services that will help companies to reduce the time and costs associated with drug discovery," said Eric L. Sorkin, Chairman and Chief Executive Officer of Immtech.

The joint venture will be established later this year and will provide services ranging from research planning and risk assessment through preclinical and clinical study design. With an initial focus on early-stage drug discovery, the joint venture will also be positioned to support later-stage clinical development including coordination with research sites, data management, monitoring and reporting for clinical research programs. Expansion of the joint venture's operation will include providing counsel and support related to clinical research regulatory guidelines and regulatory review procedures in China.

"As the world's most rapidly expanding market for healthcare products, China is poised for explosive growth in re
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