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Biotheus Inc. will develop innovative biomedical projects valued at 800 million yuan ($125 million) in Zhuhai with revenue expected to exceed 3 billion yuan ($469 million) once production begins.
The development will be a joint effort with the Zhuhai National Hi-Tech Industrial Development Zone (Tangjiawan) Administrative Committee as stipulated in a cooperation agreement signed on Aug 23.
Signing ceremony [Photo by Song Xianhui / Zhuhai Daily]
Biotheus is a specialized researcher of brand-new biomedicine in line with advanced international standards. Established this March in the Technological Innovation Coast, it covers 4,500 sq m (1.1 acres).
The company will research and develop a new generation of monoclonal antibodies, recombinant proteins, and peptide biopharmaceuticals. The partnership deal covers six projects seeking first-class bio drugs, including four targeting improvements in tumor immunotherapy and two looking into metabolic disease treatment.
The projects are to be implemented by a professional team with extensive experience in R&D, industrialization, and management in the biomedicine sector. Chief among them are Liu Xiaolin, CEO of the company, who was previously the senior vice president at Innovent Biologics, and Lyu Qiang, chairman of the company and an expert listed in the national Thousand Talent Program.
Researchers at Prometheus Bio-technology
Staffers involved have participated in more than 40 R&D projects, and the products resulting from their efforts now reap $20 billion in annual sales, according to a manager.
Lyu said the company hopes to lead the Pearl River Delta in contract development and manufacturing organization in biomedicine and will promote the growth of related industries.
Drug tests [Photos courtesy South Plus]