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news.Genesis Pharmaceuticals Enterprises, through its operations in China, has signed a research agreement with The Institute of Microbiology, Chinese Academy of Sciences with the goal of commercializing pharmaceutical discoveries.
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This industrialization model is Institute of Microbiology, Chinese Academy of Sciences’s (IMCAS’s) first cooperative arrangement with a pharmaceuticals manufacturing company.
Genesis will fund the industrialization model’s daily operations and R&D activities. Once new drugs have completed a first stage of experiments in the industrialization model, they will be delivered to Genesis’s factory for further testing to determine the viability of commercial wide-scale production. Genesis will have the first right to purchase patents for any products developed by the industrialization model and IMCAS.
Cao Wubo, chairman and CEO of Genesis Pharmaceuticals, said: “We are very pleased that IMCAS chose Genesis to be its partner in the commercialization of new drug discoveries. Because IMCAS is the national leading research institution in the field of microbiology, we believe collaboration will bring valuable research and develop expertise to Genesis and strengthen our own R&D force. This will extend our company’s use of cutting edge technologies as well as solidify our leading position in the Chinese pharmaceutical market.”