HD Biosciences Co. Ltd., the Marshall Institute for Interdisciplinary Research (MIIR) and the Marshall University Joan C. Edwards School of Medicine announced the new partnership to co-develop potential anti-cancer drugs.
Under the agreement, the partners will share the costs and risks of discovery and development of new drugs. They will also jointly own intellectual property and commercialization rights of the products developed through the collaboration. HDB will take lead compounds that have been discovered in Marshall University to continue the preclinical development, while the university is well versed in translational medicine, clinical trials and the U.S. Food and Drug Administration guidelines. This partnership is committed to providing innovative medicines for unmet healthcare needs, and targets on both international and Chinese markets.
Dr. Xuehai Tan, president and CEO of HD Biosciences, added, “We are very pleased to establish this collaboration with Marshall University. This agreement marks a significant achievement for HDB on the efforts to build the company’s long-term growth potential, as well as a demonstration of the recognition by our partners to our expertise and capabilities in drug discovery and development.”
According to Dr. Zijian Xie, MIIR’s director, getting new drugs from the research laboratory to clinical trials–where it is determined if the treatment is safe and effective for humans–is an expensive and time-consuming undertaking.
“Normally, it would take tens of millions of dollars and as long as a decade to translate the technology MIIR and the school of medicine have developed over the last several years into viable drug candidates,” he said. “This joint effort with HD Biosciences will significantly shorten the process because of their expertise in drug discovery, and ultimately will reduce the risk for all the partners.
“In short, this represents a bold approach that will not only advance MIIR’s mission of innovation, discovery, enterprise and advancement, but will also create new business opportunities and add value for all of us.”
Dr. John Maher, Marshall vice president for research, said the venture has significant economic development potential for Marshall and the entire region. He added, “By working together to examine the commercial viability of the disease targets and treatments being developed at MIIR and the medical school, we will be able to accelerate the translation of research from our labs into discoveries that will help improve human health and stimulate economic development.”
Date: July 10, 2014
Source: HD Biosciences
Filed Under: Drug Discovery