Commonwealth Bio sets up new facilities in China

USA-based Commonwealth Biotechnologies has announced further details regarding Venturepharm (Asia), CB's joint venture with Venturepharm  Laboratories. The JV was established to leverage both firms' respective  strengths in drug discovery and clinical R&D. The initial focus will be  to establish two new state-of-the-art chemistry facilities in Jiangsu  province, China, to service the growing global demand for discovery  chemistry services.

The market for chemistry-related services is estimated to be worth in  excess of $8.0 billion per annum, according to figures from Kalorama  Information, and the section of the total pharmaceutical R&D market that  the JV addresses is worth an estimated $112.0 billion in 2008 , the US  firm notes. The combination of CB's expertise in drug discovery services  and reliable project management combined with the capacity and cost  advantages offered by VPL will allow the former's customers to access a  combination of rapid, high-quality and innovative research services at  globally competitive prices and provide its shareholders with a stake in  the booming Chinese technology sector.

Funded by VPL with local and federal Chinese government support,  experienced staff from CB's Exelgen and Mimotopes drug discovery  services groups will guide the construction and build-out of the new  chemistry facilities. CB expects to fully integrate the new facilities  with its existing production sites in Australia, Europe and the USA to  provide seamless project management locally to clients. Marketing  initiatives for the JV will be promoted through targeted advertising via  print and web-based media, as well as conference attendance.