SHANGHAI, April 26, 2016 /PRNewswire/ -- LabNetwork, a WuXi AppTec company, held a formal signing ceremony in Shanghai announcing strategic cooperation agreements with 10 top-ranking global chemical providers. With the vision of connecting suppliers and buyers on LabNetwork's global platform for research products, the agreements aim to explore development and speed the time to market of innovative and high quality research compounds. These partnerships reflect LabNetwork's commitment to enable scientists anywhere in the world to leverage the LabNetwork platform to conduct their research more efficiently and cost effectively.
Based on the accumulation of data by WuXi AppTec during the last 15 years, LabNetwork has established a strict supplier rating system and selected the following 10 companies as the first Five-Star Chemical Service Providers: Sigma-Aldrich Chemie GMBH; Oakwood Products, Inc.; Shanghai Bide Pharmatech Ltd.; Accela ChemBio (Shanghai) Co. Ltd.; PharmaBlock Inc.; Shanghai Titan Scientific Co.,Ltd.; Shanghai 9 Ding Chem Scientific Co., Ltd.; Beijing InnoChem Science & Technology Co., Ltd.; TCI (Shanghai) Development Co., Ltd.; and Beijing Ouhe Scientific Co., Ltd..
The first-of-its-kind alliance of so many top-ranked suppliers creates a new chemical trading model. The ultimate desired effect is to encourage more suppliers to provide their services in a healthier, more transparent and market-driven way to assist new drug research and development.
"LabNetwork will be a catalyst to enable more efficient and cost-effective research," said Dr. Xuanjia Peng, the Head of LabNetwork. "WuXi AppTec has always been dedicated to creating an open platform for innovation and technology, and LabNetwork is the ideal channel through which we continue this quest. We spare no efforts to provide high quality compounds to global end-users in pharmaceutical discovery and help them to speed up their research."
LabNetwork Inc., a subsidiary of the WuXi AppTec Group, leverages the professional knowledge and strength of WuXi in the areas of new drug development, strategic sourcing, quality control and global logistics. Through WuXi's depth of experience with chemical service providers and end-users from all over the world, LabNetwork connects suppliers and buyers on a global scale, resulting in a revolutionary eCommerce platform for discovery compounds.
About WuXi AppTec
WuXi AppTec is a leading pharmaceutical, biotechnology, and medical device R&D platform company with global operations. As a research-driven and customer-focused company, WuXi AppTec provides a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi AppTec's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. WuXi AppTec is also building a platform to provide clinical diagnostic services directly to physicians and their patients globally. Please visit: http://www.wuxiapptec.com.
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SOURCE WuXi AppTec