China's top pharmaceutical university sets up research institute in Hangzhou

An innovative drug research institute jointly developed by China Pharmaceutical University (CPU) and Hangzhou, capital of Zhejiang province, was officially unveiled in Hangzhou Biopharma Town in Qiantang New Area on May 10.

As the first independently-operated platform to promote industry-university-research collaboration outside of the university, the 2,700-square-meter institution will focus on four major areas, including the research and development of high-end long acting pharmaceutical preparations, pharmaceutical research, the biomedical industry, and generic pharmaceuticals.

Shao Lichun, executive deputy director of Qiantang New Area, said that the launch of the new institute will usher in a new chapter of bilateral cooperation between CPU and the New Area, and believes that the facility will make great achievements through the disciplinary, technology and human resources of CPU and the geographical, industrial and service advantages of the district.

The institute will play a role in boosting the upgrading and transformation of the bio-pharmaceutical industry in Hangzhou Biopharma Town and propel the development of innovative drugs in Zhejiang province as a whole, said Lai Maode, president of CPU.

It is expected that the institute will introduce and cultivate 20 bio-pharmaceutical firms and obtain 50 invention patents within five years.

The center will also conduct various professional exchange activities and serve more than 500 companies every year, with the accumulated service output predicted to be no less than 100 million yuan ($14.58 million) within five years.

A signing ceremony between CPU and several Hangzhou-based bio-pharmaceutical firms was also held concurrently.