On July 20, 2018, InnoCare announced an agreement between Beijing InnoCare Pharma Tech Co., Ltd., Guangzhou Development Zone, and its subsidiary Guangzhou Kaide Technology Development Co., Ltd. (Kaide Technology) to establish Guangzhou InnoCare Pharma Tech Co., Ltd., a development center with advanced international standards.
Dr. Jisong Cui, co-founder, Chairman, and CEO of InnoCare, said: “We are very pleased to establish the InnoCare Guangzhou Development Center with the Guangzhou Development Zone. It is an important milestone for InnoCare to expand from R&D to manufacture. With China’s aging population, we are in urgent need of more innovative therapies for cancer and autoimmune diseases. The establishment of the InnoCare Guangzhou Development Center will accelerate InnoCare’s innovation in developing more effective and affordable medicines for China and the world.”
With a total investment of over 2 billion RMB, the Guangzhou Development Center will cover about 20 acres. Its design, which will meet the GMP requirements of US, Europe, and China, will support InnoCare’s needs from clinical trials to commercial production.
The head of the Guangzhou Development Zone Management Committee said: “Guangzhou will further improve and expand the landscape of the biomedical industry. The successful establishment of InnoCare’s facility is of great importance to us and will help Guangzhou build a world-class innovative pharmaceutical industrial cluster. Guangzhou, in-line with the rapid development of InnoCare, will give its strong support to all aspects including fund-raising, management services, and creating a prolific business environment.
InnoCare is an emerging biotech company focused on the innovation of novel drugs for immuno-oncology/targeted therapy and autoimmune diseases. Though rooted in China, InnoCare’s mission is to become a global leader in providing patients with safe, effective, and affordable treatments for cancer and autoimmune diseases. Autoimmune diseases, such as rheumatoid arthritis and systemic lupus erythematosus, have high incidence in the China and lack effective treatments. InnoCare combines internal R&D, licensing-in, and international collaboration to drive the development of Best-in-Class drugs.
About Guangzhou Kaide Technology Development Co., Ltd.
Founded in 1998, Guangzhou Kaide Technology Development Co., Ltd. is a wholly state-owned company under the Guangzhou Development Zone. As the largest technology strategic shareholding platform in the Guangzhou Development Zone, Kaide Technology Co., Ltd. invests in “IAB” and “NEM” industrial projects, such as high-tech enterprises and advanced manufacturing industries. At present, Kaide Technology’s portfolio includes Lejin Display (China) Co., Ltd., BeiGene Bio-Pharmaceutical Co., Ltd., and Xintongyuan Industrial Internet Innovation Center (Guangdong) Co., Ltd. As the director unit of Guangzhou Urban Block Chain Industries, Kaide Technologies will facilitate the development of Guangdong’s block chain industry.