China's Yabao Pharmaceutical and the University of South Australia have finalized a partnership first announced in September to create a drug discovery laboratory to develop cancer drugs.
|University of South Australia vice chancellor David Lloyd|
The Chinese company is responsible for providing cash and "in-kind contributions" and will retain exclusive rights to develop and market drug candidates in China while the university will work to identify the drug candidates and retains the right to commercialize them in all other markets, according to a report by LifeScientist.
The university's vice chancellor, David Lloyd, said in the report that "the challenge of cancer is a global challenge and it makes the best sense, for those dedicated to beating the disease, to find ways to productively collaborate on cures."
"What better partners than Yabao--one of China's most successful pharmaceutical companies--and Dr. Peng Wang, someone with 25 years of international experience in drug development and a member of China's FDA Advisory Board," he said, according to the LifeScientist report.
- here's the report from LifeScientist