Innovative Biomedical Research& Development Center is settled in Wuxi High-tech District
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On November 27, world-famous pharmaceutical company—AstraZeneca Pharmaceutical Co., Ltd. and SDIC Fund Management Co., Ltd. signed the contract to build a world-lead and innovative Biomedical Research& Development Center together to promote the research and development of new drugs in China, which will be the first cooperation project between one world’s top 500 multinational pharmaceutical enterprise and local fund to research and develop new drugs and the first project of researching and developing 1.1 new drags cooperated internally and externally. Li Xiaomin, member of the Standing Committee of the CPC Jiangsu Provincial Committee and Secretary of the CPC Wuxi Municipal Committee, attended the signing ceremony. CEO of AstraZeneca Pharmaceutical Co., Ltd., Gao Guohua, Board Chairman of SDIC Fund Management Co., Ltd, and Huang Qin, member of the Standing Committee of the CPC Wuxi Municipal Committee and Executive Deputy Mayor of Wuxi, respectively delivered speeches.

Reportedly, this company will focus on exploring new drugs, research and development, and commercialization with 130 million US dollars registered capital and 400 million US dollars total investment to start researching and developing new drugs. SDIC Fund Management Co., Ltd. will provide capital and technologies, actively expand strategic resources and introduce external partners positively relying on a series of key investment layout.