Navigation Links
ShangPharma's Biologics Division Announces Accelerated Achievement of Milestones for Two Multi-Stage Projects
Date:8/11/2011

SHANGHAI, Aug. 11, 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 achieved the initial milestones for two multi-staged projects in its biologics division, which portends strong growth for this segment in 2011.

The initial milestones were achieved for two oncology projects that are under development for a major U.S.-based pharmaceutical company. ShangPharma launched the projects at the beginning of this year and reached these milestones earlier than anticipated. As a result, the Company is advancing into the second phase of development ahead of schedule. ShangPharma is also conducting another multi-stage project in immunology for the same client, and expects to reach the initial milestone in the near-term.

Over the past year, ShangPharma has greatly enhanced its technological platforms in biologics research, allowing for faster delivery of high quality R&D work. Currently, it possesses a complete platform for the preclinical development of therapeutic antibodies that can support early-stage target validation through the delivery of potential drug candidates. These broadened service offerings have resulted in a significant increase in its biologics division's pipeline for additional projects that are expected to start in the near-term. The Company is gaining wider acceptance due to its ability to perform integrated programs and it expects to enter into additional contracts with new customers including a top 20 global pharmaceutical company, a U.S.-based biotechnology company and a large domestic Chinese pharmaceutical company, during the second half of 2011. The Company also plans to have close to 100 employees in the biologics division by the end of 2011.  

Michael Xin Hui, founder and Chief Executive Officer of ShangPharma, commented, "We are pleased by our enhanced speed and quality in the delivery of the first milestones for these projects, which demonstrates our ability to execute at the same high level of quality services. We are committed to expanding the biologics segment of our business through our partnerships with the world's most respected pharmaceutical and biotechnology companies for the development of novel biological therapeutics."

About ShangPharma Corporation 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 www.shangpharma.com. For further information, please contact:ShangPharma CorporationIn Shanghai, ChinaMs. Lan XieVP of Finance and OperationsEmail: IR@shangpharma.comChristensenIn New York:Kimberly Minarovich,Tel: +1 917-533-3268Email: kminarovich@christensenir.comIn Hong Kong:Tip Fleming Tel: +852-9212-0684Email: tfleming@christensenir.com
'/>"/>

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

Related medicine technology :

1. ORENCIA(R) (abatacept) Supplemental Biologics License Application for Juvenile Idiopathic Arthritis Accepted by FDA for Filing and Review
2. Insmed Launches National Awareness Campaign Surrounding Follow-On Biologics
3. Insmed Provides Update on Follow-On Biologics and IPLEX(TM) Programs
4. CTI to Meet With the FDA to Discuss Filing of a Supplemental Biologics License Application for Zevalin(R)
5. Insmed CEO to Present at Congressional Briefing on Follow-On Biologics
6. Interface Biologics Anti-Thrombic Additives Show Equivalent Efficacy to Commercial Heparinized Coatings
7. FDA Grants Priority Review of a Supplemental Biologics License Application for Cinryze(TM) C1 Inhibitor (Human) as Treatment for Acute Attacks of Hereditary Angioedema (HAE)
8. Bone Biologics Announces Significant Milestone for Spinal Fusion Surgery Using Recombinant Protein and Demineralized Bone Matrix
9. Isolagen, Inc. Submits Biologics License Application for the Treatment of Wrinkles to the U.S. Food and Drug Administration
10. Food and Drug Administration Accepts Isolagens Biologics License Application for Full Review
11. CMC ICOS Biologics and Implicit Bioscience Ltd Announce IC14 Antibody Manufacturing Agreement and Patent License
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... India , June 24, 2016 ... Needles Market by Type (Standard Pen Needles, Safety Pen ... Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, ... by MarketsandMarkets, This report studies the market for the ... expected to reach USD 2.81 Billion by 2021 from ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, a ... invasive and more durable cerebrospinal fluid treatments, today ... The Series-A funding is led by Innova Memphis, ... and other private investors.  Arkis, new financing will ... and the market release of its in-licensed Endexo® ...
(Date:6/23/2016)... 2016 Any dentist who has made an implant ... process. Many of them do not even offer this as ... high laboratory costs involved. And those who ARE able to ... a high cost that the majority of today,s patients would ... Parsa Zadeh , founder of Dental Evolutions Inc. and inventor ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the ... AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes Convention Center in ... topics including advance care planning, healthcare costs and patient and family engagement. , ...
(Date:6/25/2016)... ... ... Bruton Memorial Library on June 21 due to a possible lice infestation, as reported by ... lice: the parasite’s ability to live away from a human host, and to infest common ... the event that lice have simply gotten out of control. , As lice are a ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... First ... United States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell ... facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin ... injury. Recently, he has implemented orthobiologic procedures as a method for treating his ... of the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
Breaking Medicine News(10 mins):