Abbott will gain access to Huya’s Chinese bioscience network comprising premier companies, universities, government research institutions and bioparks throughout the country. Huya said that it has agreements in place with many of these organizations whereby Huya has ongoing exclusive access to compounds and biologics in a variety of indications.
It is reported that Huya is currently evaluating and following the progress of more than 600 lead, preclinical and clinical drug candidates.
Huya’s model is based on long-term relationships with its Chinese partners and this provides a continuous source of compounds, unlike a single compound strategy, noted Huya. The company currently has two clinical stage drugs licensed from China in the therapeutic areas of cardiovascular and oncology for development in the West.
Mireille Gingras, president and CEO of Huya, said: “China has an extremely rich pool of drug candidates, which we are able to tap through our extensive network of partners. We’ve been effective in leveraging those relationships to the mutual benefit of our partners in the West and in China, and we’re looking forward to a productive collaboration with Abbott.”