Shandong to set up national innovative drug R & D platform
Shanghai. December 15. INTERFAX-CHINA - Shandong Provincial Government has signed an agreement with the implementation management office of the National Key Innovative Drug Creation Program to set up a national innovative drug research and development (R & D) platform, the Ministry of Science and Techonology's (MoST) provincial branch in Shandong announced on Dec. 14.
According to the announcement, the new platform will be established on a RMB 118.91 million ($17.41 million) initial investment, of which RMB 38.91 million ($5.70 million) will come from the central government. It will take two years for the platform to be set up.
The platform is one of the 15 national-level innovative drug R & D platforms under the National Key Innovative Drug Creation Program. A total of 11 platforms will be set up in universities and research institutes while the remaining four platforms will be set up by provincial governments.
Shandong's innovative drug R & D platform aims to obtain State Food and Drug Administration (SFDA) approval to commence clinical trials for 10 innovative drugs as well as to launch one to two innovative cardiovascular drugs in the domestic market within the next two years.
The platform will be supervised by the provincial government and jointly set up by Shandong Key Innovative Drug Creation Center, Shandong University, China Ocean University, Shandong Pharmaceutical Science Academy, Shandong Medical Sciences Academy, Shandong Traditional Chinese Medicine (TCM) University and Shandong TCM Academy.
The platform will consist of a 80,000 square meter-R & D center, a 70,000 square meter-pharmaceutical technology commercialization base as well as six R & D bases including an innovative marine drug base in China Ocean University and innovative TCM bases in Shandong TCM University and Shandong Academy of Chinese Medicine.
Moreover, authorities will likely select 20 pharmaceutical companies such as Qilu Pharmaceutical Co. Ltd., Shandong Luye Pharmaceutical Co. Ltd. and Shandong Reyoung Pharmaceutical Co. Ltd. to participate in the program, the announcement said.