AstraZeneca forms Chinese company to boost innovation

AstraZeneca and the Chinese Future Industry Investment Fund (FIIF) have partnered to establish a company focused on discovering, developing and commercialising new medicines.

FIIF is managed by the SDIC Fund Management Company (SDIC Fund), a private equity management company.

Announced yesterday, November 27, the new company will focus on bringing innovative medicines to patients in China faster.

The company, Dizal Pharmaceutical, holds exclusive rights to develop and commercialise three potential medicines currently in pre-clinical development from AstraZeneca’s pipeline in its main therapy areas of oncology, cardiovascular and metabolic diseases, and respiratory.

Dizal Pharmaceutical is also expected to initiate novel clinical programmes. FIIF will contribute funding and expertise in establishing strategic partnerships in China.

Xiaolin Zhang, previously head of AstraZeneca’s Innovation Center China, has been named as CEO of Dizal Pharmaceutical.

Pascal Soriot, CEO of AstraZeneca, explained that by partnering with FIIF, the companies are aiming to “accelerate the local discovery and development of innovative, affordable medicines for patients in China and around the world”.

Guohua Gao, chairman of SDIC Fund, said: “AstraZeneca’s Innovation Center China has an excellent track record of drug discovery, and the synergy created by combining AstraZeneca’s scientific talent and assets with FIIF’s China expertise and funding will help further promote innovation in medical science.”

AstraZeneca’s China headquarters are based in Shanghai and the company has more than 11,000 employees throughout the country.

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