LEAD Thera in research deal with ShangPharma

LEAD Therapeutics, a chemistry-driven drug discovery company based in the San Francisco Bay Area, USA, has entered into a strategic research collaboration with Shanghai ChemPartner in China, the wholly-owned subsidiary of ShangPharma. In conjunction with this deal, China Gateway Life Science (Holding), the strategic investment arm of ShangPharma, has made an equity investment in LEAD Therapeutics. Previously-announced investors include Pappas Ventures, ProQuest Investments and Mustang Ventures.

Under the terms of the agreement, LEAD Therapeutics will have access to a dedicated team of scientists at ChemPartner, with operational flexibility and significant room for expansion. A joint steering committee has been appointed to oversee the objectives and progress of the accord.

"This creative relationship with one of the leading discovery contract research organizations in China will greatly accelerate our drug discovery efforts towards generating novel and differentiated pre-Investigational New Drug candidates," said Peter Myers, chief executive of the US firm. "This is one of the ways that LEAD Therapeutics is differentiating itself in effectively and rapidly leveraging China's technical capabilities in the life science arena," he added.