17 Jul 2009 14:54

Liaoning Normal University to develop new drugs with Dalian Development Area

Shanghai. July 17. INTERFAX-CHINA - The Dalian Development Area and Liaoning Normal University will soon start collaborating in new drug development, the Dalian Development Area, an economic and technological development area, announced on July 17.

According to the announcement, Liaoning Normal University's Biotechnology Engineering and Molecule Drug Institute will work with the Dalian Development Area on clinical stage research and development (R & D) as well as commercialization of two novel marine antibiotics that it developed.

"Liaoning Normal University financed the preliminary R & D while the Dalian Development Area will finance the clinical research. We expect annual sales revenues from the two new drugs to hit RMB 200 million ($29.28 million) and RMB 300 million ($43.92 million) respectively," a project manager from the Dalian Development Area, surnamed Wang, told Interfax.

Wang said it is possible that the Dalian Development Area and Liaoning Normal University may further cooperate in new drug innovation, which will likely bring more business opportunities to pharmaceutical and biopharmaceutical companies located in the Dalian Development Area.