BRIEF—China's HaiHe Pharma sets up joint venture with CSPC

Shanghai-based biotech HaiHe Pharma has partnered with Shijiazhuang-based, government-backed CSPC Pharmaceutical Group to establish a joint venture.

The JV will focus on the joint development and commercialization of five HaiHe assets - RMX1001 and RMX1002 to release cancer pain, RMX2001 for infection, as well as two cancer treatments - HH185 and a CDK4/6 inhibitor.

“We are very pleased to work with the fully reinforced mega pharmaceutical companies such as CSPC to form a joint venture to co-develop and commercialize five projects of HaiHe,” commented academician Jian Ding, chairman of HaiHe Biopharma.

"This collaboration represents HaiHe's R&D capability has been recognized by the industry. The joint venture company will give full play to HaiHe’s science-driven innovative R&D capabilities and CSPC’s extensive experience in manufacture and marketing to achieve strong alliances. Focusing on R&D, manufacture and marketing of original Chinese innovative drugs, we will accelerate the development and marketization of drugs based on our existing core competencies and areas of expertise to meet the clinical needs of more patients," he added.