Financing innovation in China
How Yabao Pharma plans to access innovative R&D through newco Suzhou Yabao
Yabao Pharmaceutical Group Co. Ltd. is seeking VCs to join it in financing a new spinout that has aspirations to participate in global development of novel drugs. Newco Suzhou Yabao Pharmaceutical R&D Co. Ltd. is in-licensing Chinese rights and doing early development work under global quality standards with the aim to produce data a third party can use to jump-start global development.
Suzhou Yabao was formed last year as the innovative R&D arm of Yabao, a generic and traditional Chinese medicine company that is looking to participate in developing innovative products. The newco, which is in-licensing R&D programs from academia and pharma, already has five programs and expects to add two to three more by year end, according to CEO and CSO Peng Wang...