- World-class research institute and new innovation center partner to accelerate early translational research -
LA JOLLA, Calif., June 8, 2017 /PRNewswire/ -- The Scripps Research Institute (TSRI) and ShangPharma Innovation, Inc. (SPII) today announced a strategic collaboration to accelerate the development of innovative drug candidates through scientific collaboration, a services relationship with Shanghai ChemPartner Co. Ltd. (ChemPartner), and sponsored research at TSRI and its drug discovery affiliate, California Institute for Biomedical Research (Calibr). The parties aim to leverage the drug discovery pipeline, expertise, and momentum emerging from the TSRI and Calibr affiliation announced late last year.
SPII facilitates and accelerates drug discovery by offering funding, incubator space, and other essential support to its collaborators. The partnership with TSRI marks a major new initiative for SPII to enable its mission to support therapeutic research at the earliest stages with the ultimate goal of getting innovative new treatments to patients.
Under the terms of the collaboration, institute scientists will put forth translational research projects to a joint committee comprising drug discovery experts across TSRI, Calibr, and SPII. In turn, SPII will contribute cash and in-kind services totaling up to $15 million over an initial term of three years. TSRI and Calibr will retain control over assets resulting from the collaboration, with SPII receiving a significant share of future value.
"We are delighted to partner with an experienced group that has complementary infrastructure and resources," said Peter G. Schultz, Ph.D., President of TSRI and Calibr. "This new initiative allows us to further accelerate our mission of creating new medicines for unmet needs in a nimble partnership structure designed to mature the programs before out-licensing, creating significant value for patients as well as for the institute."
"Biomedical R&D is one of the most challenging areas of science across all disciplines and industries. Strategic partnerships often drive success in making the impossible possible. That is exactly what we plan to do in this alliance with TSRI and Calibr," stated Walter H. Moos, Ph.D., CEO of SPII. "Unlocking the potential of top investigators at TSRI and Calibr to advance novel therapies and ultimately to save and improve lives is our joint goal."
About The Scripps Research Institute
The Scripps Research Institute (TSRI) is one of the world's largest independent, not-for-profit organizations focusing on research in the biomedical sciences. TSRI is internationally recognized for its contributions to science and health, including its role in laying the foundation for new treatments for cancer, rheumatoid arthritis, hemophilia, and other diseases. An institution that evolved from the Scripps Metabolic Clinic founded by philanthropist Ellen Browning Scripps in 1924, the institute now employs more than 2,500 people on its campuses in La Jolla, CA, and Jupiter, FL, where its renowned scientists - including two Nobel laureates and 20 members of the National Academies of Science, Engineering or Medicine - work toward their next discoveries. The institute's graduate program, which awards doctoral degrees in biology and chemistry, ranks among the top ten of its kind in the nation. In October 2016, TSRI announced a strategic affiliation with the California Institute for Biomedical Research (Calibr), representing a renewed commitment to the discovery and development of new medicines to address unmet medical needs. For more information, see http://www.scripps.edu/.
About ShangPharma Innovation
ShangPharma Innovation Inc., founded in the US in 2016, facilitates and accelerates drug discovery, focusing on both therapeutics and technology platforms, and offers funding, incubator space, and other support to its ecosystem of collaborators, partners, and tenants. This includes sponsoring proof-of-concept research at academic and major medical centers, research institutes, and seed-stage start-ups, leading to industry collaborations and venture capital financing. ShangPharma Innovation and ChemPartner are affiliates and preferred partners. Services will be provided predominantly or solely by ChemPartner at their standard commercial rates.
Shanghai ChemPartner Co. Ltd., along with its subsidiary entities, is a leading research organization providing high-quality and cost-effective contract research services for the biopharmaceutical industry. ChemPartner offers integrated services across the drug discovery and development process to pharmaceutical and biotechnology companies worldwide. ChemPartner's dedication to life science is seen through its broad range of services, from discovery biologics, discovery chemistry, discovery biology, and preclinical development through pharmaceutical development and manufacturing services for small molecules and biologics.
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SOURCE ShangPharma Innovation, Inc.