AstraZeneca has announced a $2.5bn investment in the company’s sixth worldwide strategic research and development (R&D) centre in Beijing, China.
The initiative, which will take place up to 2029, is part of a strategic collaboration with the Beijing municipal government and the Beijing Economic-Technological Development Area Administrative Office.
Go deeper with GlobalData
The new R&D centre will focus on early-stage research and clinical development, supported by data science and an AI lab.
It will be located in Beijing International Pharmaceutical Innovation Park, close to the National Medical Products Administration and the biotechs and research hospitals.
The expansion will increase AstraZeneca’s workforce in the region to 1,700.
The company is forging partnerships in the country, including a strategic collaboration with the Beijing Cancer Hospital aimed at data science, translational research and clinical development.
It is entering into two partnerships and licencing agreements with Harbour BioMed for multi-specific antibody discovery, and a third with Syneron Bio for macro-cyclic peptides development.
AstraZeneca CEO Pascal Soriot stated: “This $2.5bn investment reflects our belief in the world-class life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and our continued commitment to China.”
Harbour BioMed’s partnership includes AstraZeneca’s $105m equity investment.
Harbour BioMed will receive $175m in upfront and near-term milestone payments, along with up to $4.4bn in further payments.
AstraZeneca will acquire 9.15% Harbour BioMed’s newly issued shares.
The agreement involves an option to license several programmes leveraging Harbour’s Harbour Mice fully human antibody technology platform covering various therapeutic areas.
Syneron Bio’s strategic partnership involves AstraZeneca offering upfront and potential near-term milestone payments of $75m and up to $3.4bn in further payments.
AstraZeneca’s equity investment in Syneron Bio will support the expansion of its Beijing R&D centre.
Syneron Bio will provide AstraZeneca with access to its Synova platform, a macrocyclic peptide drug research and development platform.
AstraZeneca is launching a joint venture with BioKangtai to develop, manufacture and commercialise vaccines for respiratory and infectious conditions. This facility, located in the Beijing BioPark, will be AstraZeneca’s only vaccine manufacturing site in the country.
