SOUTH SAN FRANCISCO, Calif. and NEW YORK, Jan. 16, 2018 /PRNewswire/ -- ShangPharma Innovation Inc., a global venture capital firm focused on biomedical R&D therapeutics and technologies, and Icahn School of Medicine at Mount Sinai (ISMMS) have entered into a multi-year strategic collaboration to accelerate the development of novel early-stage therapeutics.
Under the terms of the agreement, ShangPharma Innovation will provide funding and preclinical research support to further ISMMS's objectives of validating drug targets and establishing programs to discover new therapies. ShangPharma and Mount Sinai will share in the future value created through the collaboration.
"We are proud to be aligned with the Icahn School of Medicine at Mount Sinai and its legacy of achieving significant breakthroughs across the spectrum of biomedical research," said Walter H. Moos, PhD, CEO of ShangPharma Innovation. "This represents a major milestone for ShangPharma Innovation as we push forward with innovation-minded collaborations that translate early-stage science into novel treatments for patients."
The collaboration agreement anticipates that ShangPharma Innovation will provide multiple years of R&D funding at ISMMS's clinical institutes in New York. ShangPharma Innovation also will provide additional support in the form of research services from Shanghai ChemPartner Co. Ltd., a full-service life science CRO with over 15 years of pharmaceutical research experience.
"This partnership was fueled by the groundbreaking technologies from innovators here at Mount Sinai. Our expertise in commercially-relevant translational research, coupled with ShangPharma Innovation's drug development capabilities will advance much needed medicines to patients worldwide," said Erik Lium, PhD, Senior Vice President of Mount Sinai Innovation Partners.
About ShangPharma Innovation Inc.
ShangPharma Innovation Inc. is a healthcare venture capital firm that accelerates and facilitates pharmaceutical discovery and development. With a focus on therapeutics and technology platforms, ShangPharma Innovation offers funding, incubator space and other support to its ecosystem of portfolio companies, collaborators and partners. This includes sponsoring biotech start-ups and proof-of-concept research at major academic and medical centers and research institutes. ShangPharma Innovation maintains active research partnerships with University of California, San Francisco; The Scripps Research Institute in La Jolla, Calif.; and the nonprofit research center SRI International. For more information, see http://www.spiivc.com.
About Mount Sinai Health System
The Mount Sinai Health System is New York City's largest integrated delivery system, encompassing seven hospital campuses, a leading medical school and a vast network of ambulatory practices throughout the greater New York region. Mount Sinai's vision is to produce the safest care, the highest quality, the highest satisfaction, the best access and the best value of any health system in the nation. The Mount Sinai Hospital is ranked as one of the nation's top 20 hospitals in Cardiology/Heart Surgery, Diabetes/Endocrinology, Gastroenterology/GI Surgery, Geriatrics, Nephrology, and Neurology/Neurosurgery, and is in the top 50 in four other specialties in the 2017-2018 "Best Hospitals" issue of U.S. News & World Report. Mount Sinai's Kravis Children's Hospital also is ranked in seven out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 12th nationally for Ophthalmology, while Mount Sinai Beth Israel, Mount Sinai St. Luke's and Mount Sinai West are ranked regionally. For more information, visit http://www.mountsinai.org/, or find Mount Sinai on Facebook, Twitter and YouTube.
About Mount Sinai Innovation Partners (MSIP)
MSIP is responsible for driving the real-world application and commercialization of Mount Sinai discoveries and inventions, and the development of research partnerships with industry. Our aim is to translate discoveries and inventions into health care products and services that benefit patients and society. MSIP is accountable for the full spectrum of commercialization activities required to bring Mount Sinai inventions to life. These activities include evaluating, patenting, marketing and licensing new technologies, building research collaborations and partnerships with commercial and nonprofit entities, material transfer and confidentiality, coaching innovators to advance commercially-relevant translational discoveries, and actively fostering an ecosystem of entrepreneurship within the Mount Sinai research and health system communities. For more information, visit http://www.ip.mountsinai.org.