UK-based pharmaceutical firm AstraZeneca is set to invest $2.5bn in Beijing, China, to establish its sixth global strategic research and development (R&D) centre.
The initiative is part of a strategic partnership with the Beijing Municipal Government and the Beijing Economic-Technological Development Area Administrative Office.
The investment, which aims to advance life sciences in China, includes agreements with biotech companies BioKangtai, Harbour BioMed, and Syneron Bio.
Located in the Beijing International Pharmaceutical Innovation Park (BioPark), the new R&D centre will focus on early-stage research and clinical development.
It will feature advanced AI and data science laboratories and will be close to biotech firms, research hospitals, and the National Medical Products Administration (NMPA).
AstraZeneca’s workforce in Beijing is expected to grow to 1,700 employees.
AstraZeneca CEO Pascal Soriot said: “This $2.5bn investment reflects our belief in the world-class life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and our continued commitment to China.
“Our sixth strategic R&D centre will partner with the cutting-edge biology and AI science in Beijing and be a critical part of our global efforts to bring innovative medicines to patients worldwide.”
The collaboration with Harbour BioMed will focus on discovering multi-specific antibodies, while the partnership with Syneron Bio will develop macro-cyclic peptides.
Harbour will receive $175m in upfront, milestone, and option exercise fees, with potential additional payments of up to $4.4bn.
AstraZeneca will acquire 9.15% of Harbour BioMed’s newly issued shares.
Harbour BioMed will establish an innovation centre in Beijing, co-located with AstraZeneca, to support collaboration programmes.
For Syneron Bio, AstraZeneca will provide $75m in upfront and potential milestone payments, with additional milestones up to $3.4bn, alongside tiered royalties on global sales.
Syneron Bio plans to expand its Beijing R&D centre as a result of this collaboration.
AstraZeneca is also launching a joint venture with BioKangtai to develop, manufacture, and commercialise vaccines for respiratory and other infectious diseases.
It will be the company’s first vaccine manufacturing facility in China, in the Beijing BioPark.
Furthermore, AstraZeneca is also establishing new R&D collaborations, including a strategic partnership with the Beijing Cancer Hospital.
The partnership will focus on translational research, data science, and clinical development.
Syneron Bio founder and CEO Frank Zhang said: “Interest in our Synova platform is incredibly inspiring and driven by the promising research and results we have already delivered.
“In the face of growing challenges posed by chronic diseases such as autoimmune and metabolic disorders, this collaboration underscores our commitment to advancing drug development.”
Harbour BioMed founder, chairman, and CEO Jingsong Wang said: “By leveraging our cutting-edge discovery capabilities and AstraZeneca’s expertise in drug development, we aim to accelerate the creation of transformative therapies for patients with high unmet medical needs.”
