Navigation Links
ShangPharma Purchases Shanghai In-vivo Drug Research Facility from Charles River

SHANGHAI, Oct. 24, 2011 /PRNewswire-Asia/ -- ShangPharma Corporation (NYSE: SHP) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced that it has, through its main Chinese subsidiary, Shanghai ChemPartner Co. Ltd. ("ChemPartner"), acquired the assets in Charles River Laboratories International, Inc.'s ("Charles River") Shanghai research facility.

As part of the transaction, ShangPharma will take over Charles River's lease for the facility, which will provide the Company with an additional 2,972 square meters (31,990 square feet) of in-vivo research facilities originally designed for GLP Tox studies, and 1,290 square meters (13,885 square feet) of lab and office space.

"The acquisition of one of the best designed and constructed state-of-the-art research facilities and laboratories in China is a major step forward for ShangPharma's in-vivo pharmacology services, which we expect to be a significant revenue growth driver going forward, along with biologics; research manufacturing; and integrated discovery and development services," Michael Xin Hui, founder and Chief Executive Officer of ShangPharma, commented. "The added world-class research capacity should enable ShangPharma to become a top global player in the area of comprehensive in-vivo pharmacology services with specialized capabilities."

Kevin Chen, ShangPharma's President and Chief Operating Officer, commented, "This transaction nearly triples ShangPharma's overall research model production and research capacity, positioning us to further leverage China's advantages in the area of in-vivo studies. The location of this facility within ShangPharma's main research campus is a notable strategic advantage, helping us to achieve significant operating efficiencies through consolidation with our current facilities."

"This acquisition from Charles River should support accelerated growth in ShangPharma's biology, preclinical development and biologics services for the next several years," added William Dai, ShangPharma's Chief Financial Officer. "ShangPharma's strong cash position has enabled us to make this strategic investment, which we expect will provide excellent returns and maximize shareholder value."

Financial terms of the deal, which is subject to customary closing conditions, were not announced.


ShangPharma Corporation is a leading China-based contract research organization providing high-quality and cost-effective services for the pharmaceutical and biotechnology industry. It offers a broad range of high-quality, integrated services across the drug discovery and development process to help international and Chinese pharmaceutical and biotechnology companies discover and develop novel drug candidates efficiently. ShangPharma's services consist of discovery chemistry, discovery biology and preclinical development, pharmaceutical development and biologics services. For more information, please visit

For further information, please contact:  

Ms. Lan Xie
VP of Finance and Investor Relations

Brunswick Group
Josh Gartner
Phone: 86-10-5960-8600

SOURCE ShangPharma Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. ShangPharma Announces Appointment of Benson Tsang as a Member of the Board of Directors and Audit Committee
2. ShangPharma to Present at the Citibank Global Health Care Conference from March 1 - 3, 2011
3. ShangPharma Announces Fourth Quarter and Fiscal Year 2010 Results
4. ShangPharma Corporation Files 2010 Annual Report on Form 20-F
5. ShangPharma Corporation to Announce First Quarter 2011 Financial Results on May 19, 2011
6. ShangPharmas Biologics Division Announces Accelerated Achievement of Milestones for Two Multi-Stage Projects
7. ShangPharma Announces Up to $10 Million Share Repurchase Program
8. ShangPharma Corporation to Hold 2011 Annual General Meeting on October 14, 2011
9. ShangPharma Corporation Announces Resignation of a Director
10. ShangPharma Corporation Announces Shareholder Resolutions Adopted at 2011 Annual General Meeting
11. Paul Capital Healthcare Purchases Additional Royalty Interest in GlaxoSmithKlines Rotarix(R)
Post Your Comments:
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
(Date:6/23/2016)... Any dentist who has made an implant supported ... Many of them do not even offer this as a ... laboratory costs involved. And those who ARE able to offer ... high cost that the majority of today,s patients would not ... Zadeh , founder of Dental Evolutions Inc. and inventor of ...
(Date:6/23/2016)... , June 23, 2016  In a startling report released today, ... their residents by lacking a comprehensive, proven plan to eliminate prescription ... definitive ranking of how states are tackling the worst drug crisis ... four states – Kentucky , New ... Vermont . Of the 28 failing states, three – ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... ... was in a crisis. Her son James, eight, was out of control. Prone to extreme ... “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there was ... other children and say he was going to kill them. If we were driving ...
(Date:6/24/2016)... Francisco, CA (PRWEB) , ... June 24, 2016 ... ... CitiDent, is now offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive ... self-ligating Damon brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation ...
(Date:6/24/2016)... Plano, TX (PRWEB) , ... June 24, 2016 , ... ... taking part in Genome magazine’s Code Talker Award, an essay contest in which patients ... for an award to be presented at the 2016 National Society of Genetic Counselors ...
(Date:6/24/2016)... Vegas, Nevada (PRWEB) , ... June 24, 2016 ... ... Las Vegas client, The Grove Investment Group (TGIG), has initiated cultivation and processing ... Grove, in Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer of ...
(Date:6/24/2016)... ... 2016 , ... Venture Construction Group (VCG) sponsors Luke’s Wings ... at the Woodmont Country Club at 1201 Rockville Pike, Rockville, Maryland, 20852. The ... members that have been wounded in battle and their families. Venture Construction Group is ...
Breaking Medicine News(10 mins):