BEIJING, Aug. 6, 2014 (GLOBE NEWSWIRE) -- Yabao Pharmaceutical Co, Inc.(Shanghai Stock Exchange 600351), a leading pharmaceutical company in China, today announced a strategic partnership with Changzhou Le Sun Pharmaceuticals Ltd.to co-develop Le Sun's leading PLK/PI3K dual inhibitor LS-008, which currently is under pre-clinical development. This unique partnership represents a creative approach to accelerate the development of an oncology compound in China for the globe, by leveraging the complementary strengths of a premier Chinese pharmaceutical company and a world-class medicinal chemistry and drug discovery expertise.
Under the terms of the agreement, Yabao receives exclusive rights to develop and commercialize LS-008 in China while Changzhou Le Sun Pharmaceuticals Ltd. retains majority of exclusive rights in all other markets. The parties will together determine the strategic development plan, which will be performed primarily by Yabao in China under global GLP, GMP and GCP standards. Financial terms were not disclosed.
"PLK/PI3K dual inhibition represents a new and promising approach to developing new drugs for several cancers, with the most advanced compounds currently in phase III global development. We strongly believe LS-008 has potential to be best-in-class," commented Dr. Peng Wang, President of R&D, Yabao Pharmaceutical Co., "This ground-breaking partnership with Changzhou Le Sun Pharmaceuticals is an important sign of Yabao's growing commitment to partner the best science and leverage Yabao's strong clinical and regulatory capabilities to bring novel pharmaceuticals to patients suffering from serious diseases in China and in the world."
"I am excited to embark on this partnership with Yabao, a premier pharmaceutical company in China," said Professor Shudong Wang, President and founder of Changzhou Le Sun Pharmaceuticals, "Working together we are building on the strengths of both parties to develop potential new drug and help patients globally."
About Yabao Pharmaceutical Co.
Yabao Pharmaceutical Co.(Shanghai Stock Exchange 600351) is a leading China pharmaceutical company with fully-integrated development, manufacturing, and commercialization in China. Yabao is recently pursuing strategic development of innovative pharmaceuticals in addition to Yabao's well-established business in modern traditional Chinese medicines and chemical generics. In addition to strong clinical and regulatory capabilities, Yabao has strong capabilities in formulation and API production and meets good manufacturing practice (cGMP) requirements with a manufacturing site approved by US FDA and another successfully inspected by European agency. For more information about Yabao Pharmaceutical Co., please visit www.yabao.com.cn.
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About Changzhou Le Sun Pharmaceuticals Ltd.
Changzhou Le Sun Pharmaceuticals Ltd. is a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer. Professor Shudong Wang of University of South Australia, a recognized leader in the field of kinase-targeted medicinal chemistry and drug discovery, founded the Company in 2011. The company is developing several drug programs including targets of CDKs and various mitotic kinases. The company's strategy is to build pharmaceutical business based on a development pipeline of novel drug candidates. For more information, please contact: firstname.lastname@example.org.