HUYA Bioscience International and TIPR Announce Joint Venture to Develop Medical Innovation for Global Markets

SAN DIEGO, Sept. 14, 2014 /PRNewswire/ -- HUYA Bioscience International (HUYA), a leader in accelerating the global development of China's pharmaceutical innovations, today announced a joint venture with Tianjin Institute of Pharmaceutical Research (TIPR) to develop medical technologies and therapies, originating in both China and the western world, for global markets.

Under the terms of the joint venture, to be known as TIPR-HUYA Advancing Innovative Medicines (TIPR-HUYA-AIM), HUYA and TIPR will share equally in decision-making regarding product development and commercialization and focus initially on the fast-growing Chinese market.

TPIR-HUYA-AIM combines HUYA's global development experience with TIPR's prestigious credentials and commercial success within China. HUYA and TIPR will identify and evaluate medical opportunities both within and outside China. The parties will utilize TIPR's infrastructure and HUYA's global network to accelerate the development of products for both the Chinese and global markets.

HUYA is one of the first companies to have recognized China's potential to help meet the global need for new preclinical and clinical stage compounds. The company is focused on increasing the speed of development and value creation for China-sourced novel biopharmaceutical innovation in world-wide markets. HUYA has established a series of collaborations with leading universities and research institutes throughout China, and is jointly headquartered in Shanghai and San Diego – a leading biopharmaceutical and medical devices hub.

TIPR is among the oldest and most prestigious pharmaceutical research institutions in China. Originally established by the State Food and Drug Administration in 1959, it is now a wholly state-owned organization and a recognized leader in testing services for pharmaceutical, biotech, medical device, chemical and consumer products. With the financial resources and full capabilities to take candidates from discovery through clinical trials to the market, TIPR has positioned itself as a major force in drug innovation and development in China.

"This partnership is a logical extension of the HUYA business model and an exciting strategic step given the flow of data and knowledge sharing it will create. TIPR boasts an incredible track record in commercialization of pharmaceutical products and we are delighted to join forces to broaden their access to worldwide markets," said Clement Gingras, HUYA's Chief Technology Officer and Chief Operating Officer - Asia.

Dr. Lida Tang, President of TIPR, said: "HUYA's global network and international development expertise perfectly complements TIPR's state-of-the-art infrastructure and strong technical heritage. The collaboration with HUYA will not only help TIPR progress its current projects in accordance with international standards, but also capitalise on our technical capabilities and infrastructure within China by exploring in-licensing opportunities both in China and in the rest of world."

About HUYA Bioscience International

HUYA Bioscience International is a leader in enabling and accelerating the global development of novel biopharmaceutical product opportunities originating in China. HUYA has established extensive collaborations with Chinese biopharmaceutical academic and commercial organizations to speed development and value creation in worldwide markets for China-sourced product candidates. With the largest Chinese compound portfolio covering all therapeutic areas, HUYA has emerged as the partner-of-choice for building and maximizing the value of biopharmaceutical innovation in China. HUYA has offices in the US, the UK, Japan and in eight strategic locations across China, with joint headquarters in San Diego and Shanghai. HUYA's team is practiced in guiding pharmaceuticals and medical devices through FDA and PMDA submission, to approval and commercialization. www.huyabio.com

ABOUT TIANJIN INSTITUTE OF PHARMACEUTICAL RESEARCH (TIPR)

Tianjin Institute of Pharmaceutical Research (TIPR) was originally founded in 1959 and was one of the affiliated research institutes of the State Food and Drug Administration (SFDA). Since 2000, the institute has become a national key hi-tech industry focused on the development of new drugs.  TIPR consists of seven major research divisions, including a center for drug innovation, a medicinal chemistry department, a traditional Chinese medicine department, a center for pharmaceutical formulation technology and engineering support and a center for drug evaluation. In recent years TIPR has been engaged in more than 100 special projects of key novel drug innovations designated as national priorities. It has also received over 200 new drug certificates, including small molecules, Chinese medicines and biological drugs. www.tjipr.com

Contacts:

In China for announcement

Yung-Chih Wang, Ph.D., MBA
Vice President, Corporate Development, China
HUYA Bioscience International
+86 138 1622 6884
[email protected]

Clement Gingras
CTO and COO, Asia
HUYA Bioscience International
+18582053642
[email protected]

In Canada:

Yiota Merianos
Director of Communications & Special Projects
HUYA Bioscience International
+1 858-353-1217
[email protected]

SOURCE HUYA Bioscience International