As­traZeneca teams with Chi­na-owned fund to launch a new bio­phar­ma drug de­vel­op­ment com­pa­ny

As­traZeneca is part­ner­ing up with a gov­ern­ment-owned pri­vate eq­ui­ty group in Chi­na to cre­ate a new joint ven­ture bio­phar­ma that will be charged with de­vel­op­ing new drugs for the boom­ing Asian mar­ket.

For its part, the Lon­don-based gi­ant has of­fered jobs to all staffers at its In­no­va­tion Cen­ter Chi­na in Shang­hai, with pre­vi­ous ICC head Xi­aolin Zhang tak­ing over the new ven­ture — dubbed Dizal Phar­ma­ceu­ti­cal. As of now the JV has 90 staffers, a spokesper­son for As­traZeneca tells me, with the “vast ma­jor­i­ty” of the ICC em­ploy­ees sign­ing up for the new ven­ture.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER