LEAD Therapeutics Announces Strategic Research Collaboration with ShangPharma
San Bruno , CA, November 14, 2007—LEAD Therapeutics, Inc., a chemistry-driven drug discovery company based in the San Francisco Bay Area, today announced it has entered into a strategic research collaboration with Shanghai ChemPartner in China, the wholly owned subsidiary of ShangPharma. In conjunction with this collaboration, China Gateway Life Science (Holding) Ltd., the strategic investment arm of ShangPharma, has made an equity investment in LEAD Therapeutics. Previously announced investors include Pappas Ventures, ProQuest Investments, and Mustang Ventures.
Under the terms of this strategic collaboration, LEAD Therapeutics will have access to a dedicated team of scientists at ChemPartner, with operational flexibility and significant room for expansion. A joint steering committee has been appointed to oversee the objectives and progress of the collaboration.
“This creative relationship with one of the leading discovery contract research organizations (CROs) in China will greatly accelerate our drug discovery efforts towards generating novel and differentiated pre-IND candidates,” said Peter Myers, Ph.D., Chief Executive Officer and Chairman of the Board of LEAD Therapeutics. “This is one of the ways that LEAD Therapeutics is differentiating itself in effectively and rapidly leveraging China’s technical capabilities in the life science arena.”
“We are pleased to establish this strategic relationship with LEAD Therapeutics, an innovative drug discovery company in the United States,” said ShangPharma CEO Michael Hui. “Our collaboration with LEAD represents one of the many ways that we hope to participate in the dynamic biotech industry and contribute to its growth.”
About ShangPharma
ShangPharma is a leading China-based pharmaceutical and biotechnology research and development outsourcing company that provides customized services to international pharmaceutical, biotech, agrochemical and chemical companies. ShangPharma offers global pharmaceutical and biotechnology companies “integrated services” for all of their R&D needs. As the holding company of Shanghai ChemPartner Co., Ltd. and Shanghai ChemExplorer Company Ltd., ShangPharma currently has a team of more than 1,100 professionals, and more than 40% of the employees have post graduate educational experience of Master or Ph.D. degrees. For more information, please visit www.ShangPharma.com.
About LEAD Therapeutics, Inc.
LEAD Therapeutics, Inc. is a chemistry-driven drug discovery company focused on delivering novel and differentiated small molecule pre-IND candidates against clinically validated therapeutic targets by leveraging the best of the US and China. Headquartered in the San Francisco Bay Area, LEAD Therapeutics is led by an experienced small molecule drug discovery team with proven track records in the pharmaceutical and biotech industries. The company plans to carry out the majority of its discovery research activities in China. For more information, please visit the company’s website at www.leadtherapeutics.com.
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Contact
Sofie Qiao, Ph.D.
President and Chief Operating Officer
LEAD Therapeutics, Inc.
650.737.1630 Phone
info@leadtherapeutics.com
Media
Joan Kureczka
Kureczka/Martin Associates
415.821.2413 Phone
Jkureczka@comcast.net
