BIOVISION, LYON, France, March 29, 2011 /PRNewswire/ -- Institut Pasteur of Shanghai announces today the creation of its global biotech accelerator company Advance BioChina.
Advance BioChina is an R&D-focused for-profit organization that positions itself as the gateway to China for global biotech companies. Advance BioChina co-invests with global biotech companies into Shanghai-based Joint Ventures. Advance BioChina will incubate and develop up to 25 companies over the next 5 years to help them develop innovative products for the Chinese and global markets.
Advance BioChina's founder Institut Pasteur of Shanghai (IPS) was established by the Chinese Academy of Sciences, Institut Pasteur and the Shanghai Municipal Government in 2004 and is a legally independent non-profit research organization.
Ralf Altmeyer, Director General of IPS, "Biotech companies will benefit from our experience in China, our scientific expertise and technology platforms at Institut Pasteur Shanghai to achieve their product development goals."
China's pharma market has grown 15-20% p.a. over the last 8 years and is forecast to become the world's second largest biggest pharma market by 2020. The healthcare and IP-law reforms in China are improving the R&D environment and commercial perspectives for differentiated medical products.
Alice Dautry, President of Institut Pasteur, "Institut Pasteur has a long history of translating its research into applications. The launch of Advance BioChina arrives at the right time when our Asian Pasteur institutes are developing strongly at the national and international level."
Zhu Zhiyuan, Executive Director of the Chinese Academy of Sciences Shanghai Branch, "There is a significant unmet medical need in all major diseases in China with huge patient pools. Advance BioChina capitalizes on the great quality of science at IPS and its network with other life science institutes at the Chinese Academy of Sciences".
Advance BioChina provides access to funding and full incubation services paying special attention to secure the Intellectual Property of its JV partners.
About Institut Pasteur Shanghai
Institut Pasteur Shanghai (IPS) is a legally non-profit research organization established in 2004 to address health issues in China and the Asian region. IPS creates synergies between the Institut Pasteur and the Chinese Academy networks, leveraging all the assets of Shanghai as one of the Asia leading business and technology hubs. IPS is engaged in basic research in therapeutics, vaccines, diagnostics and medical devices and in a broad range of infectious diseases programs such as hepatitis, HIV, respiratory infections as well as virus-induced cancer. IPS counts 237 staff with 37 PhD scientists and will grow up to 400 staff within the next 3 years. IPS will move to its new buildings in Shanghai's Xuhui (16,000m2) and Fengxian (8,000m2) districts in 2012.
For more information, please visit http://english.shanghaipasteur.cas.cn/
For over 10 years, BioVision, the World Life Sciences Forum, has been engaging key international leaders from different backgrounds in debates on global issues involving science and society. Every other year in Lyon, BioVision brings together government and business leaders, scholars, policy makers and NGO directors. Participants analyze scientific breakthroughs, pressing global challenges, discuss the most effective solutions, and build lasting partnerships that enable them to create positive social change.
For more information, please visit http://www.biovision.org/
Advance BioChina http://www.advancebiochina.com
SOURCE Institut Pasteur Shanghai