Recently, Chongqing Pharscin Pharmaceutical Co., Ltd. (hereinafter referred to as "Pharscin Pharma") and Yang Shengyong, a professor at the State Key Laboratory of Biotherapy of Sichuan University, concluded the Agreement on Joint Foreign Investment in Establishment of An Innovative Drug R&D Company. Both parties intended to jointly invest in the development of class 1 innovative drugs for oncology and immunity and to establish a project company in the industrial carrier of Chengdu Advanced Medical Science Center. 

Professor Yang Shengyong (right) is shaking hands with You Hongtao, Chairman of Pharscin Pharma after the conclusion of the contract.

Chengdu Advanced Medical Science Center is holding the project signing ceremony. (Source: High-tech Zone TV Station) 

It is reported that Professor Yang Shengyong is a well-known scholar in the field of small-molecule targeted drug research in China and is mainly engaged in the research of drug molecular design methods, lead compound optimization, targeted drug design, synthesis and development, etc. Till now, he has published over 300 papers on top or important SCI journals in this field. He has applied for over 80 patents, of which over 30 patents have been approved, including 12 international patents. Six new candidate drugs developed by him have been transferred to large domestic pharmaceutical companies, and two of them have been in clinical trials. 

Scene of Cooperative Contract-Signing Ceremony 

In this cooperation, both parties jointly invested RMB 45.2 million to establish "Chengdu Orui Pharmaceutical Co., Ltd." (tentative) in the industrial carrier of Chengdu Advanced Medical Science Center in Chengdu Hi-Tech Industrial Development Zone. The Company will develop class 1 innovative drugs focusing on oncology and immunity and its initial project is the "innovative drug research and development of small molecule inhibitors targeting cellular Necroptosis". Pharscin Pharma holds 37.70% of the shares in the joint venture. Through this investment, Pharscin Pharma will have the priority right of cooperation in the R&D projects of the joint venture.

Necroptosis is a newly discovered way of cell death, which is regulated by death signals and exhibits necrosis-like structural features. It is actively regulated by multiple genes of tumor necrosis factor receptor (TNFR) or pattern recognition receptor (PRR), etc. and can complete orderly and regular death by activating specific death signaling pathways. Meanwhile, it bears the morphological characteristics, subcellular changes and metabolic function loss of typical cell necrosis. Necroptosis plays a critical role in the pathogenesis of various inflammations and malignant tumors. So, it is a very potential target in many immune-related inflammation and tumor treatments. The research of innovative drugs for necroptosis is currently a very cutting-edge field in the world. 

You Xuedan, Board Secretary of Pharscin Pharma, introduced:

"Pharscin Pharma has always attached great importance to R&D and innovation. After being listed, the Company has been increasing the R&D investment. In 2019, its R&D expenses increased by 63.96% over the previous year. In 2018, we formally listed the research and development of innovative drugs in the priority of our development strategy. Since then, we have kicked off the combination of development of genetic and innovative drugs."

In recent years, Pharscin Pharma has continuously been strengthening its internal R&D capabilities. In March 2020, it introduced Dr. Yuxun Wang, the Chief Scientific Officer, to energetically create and build the internal R&D infrastructure, talent group and R&D system of innovative drugs. Meanwhile, Pharscin Pharma established a wholly-owned subsidiary in the United States of America in 2019 to seek for cooperation targets for its innovative drugs in Europe and America.

You Hongtao, Board Chairman of Pharscin Pharma, said:

"This cooperation with the team of Professor Yang Shengyong of Sichuan University is a good chance to respond to and promote the great strategic deployment of the CPC Central Committee on the construction of the Chengdu-Chongqing Economic Circle. The profound academic attainments of Professor Yang Shengyong’s Team in small-molecule targeted drugs are a powerful supplement to the construction of our innovative drug capacity. Pharscin Pharma will form a synergistic effect in innovative drug R&D cooperation with the joint venture and its innovative drug R&D strategy will be strengthened more substantially."

You Hongtao, Board Chairman of Pharscin Pharma, is delivering the speech at the signing ceremony.

Academician Wei Yuquan is delivering the speech on the signing ceremony.

This cooperation will promote Pharscin Pharma' innovative drug research and development to the stage of further specific projects. The joint venture will start with the innovative drug research and development project of small molecule inhibitors targeting the necroptosis. After 3 to 5 years, it will focus on international cutting-edge targets to gradually form R&D pipeline of at least two IND-phase projects and three PCC-phase projects.

Let us look forward to the future of this "win-win cooperation"! 

Source: Chengdu High-Tech Television