AstraZeneca to set up new R&D, innovation centers in Shanghai
Leading biopharmaceutical company AstraZeneca said it will set up a global R&D center in Shanghai, as well as an artificial intelligence innovation center in Jing’an District as a further step of its local investment and research efforts.
AstraZeneca said it will also collaborate with the Shanghai municipal government in areas such as new drug development, AI-empowered health care and big data-integrated services, according to a partnership deal signed during the CIIE on Wednesday.
"The global R&D center will ensure that we are at the forefront of scientific researches in China and, most importantly, accelerate the delivery of innovative drugs from China to patients worldwide,” commented Pascal Soriot, chief executive officer of AstraZeneca.
The newly established wholly owned subsidiary AstraZeneca Shanghai Medicine Co will be a new legal entity to operate the upgraded R&D facilities, the Shanghai AI Innovation Center and other businesses including drug sales and distribution.
The company's Shanghai AI Innovation Center would focus on collaborations between technology companies and local startups for the development of innovative solutions and also function as an incubator to integrate cutting-edge technologies like AI and big data with health care.
“Multinational companies are welcomed to invest in R&D and innovation in Shanghai, as this aligns with the municipal government’s mandate of building the city into a technology and innovation hub with global impact," noted Yu Yong, deputy secretary of the Communist Party of China Jing’an District Committee and governor of Jing’an.
“We see an increasing need in the early development of local innovative drugs, and deeply feel the strong willingness of overseas innovative medical companies to conduct drug R&D in China, and we expect these new moves would promote the local development, incubation, registration and launch of global innovative medicine," commented Leon Wang, Executive Vice President of AstraZeneca International and AZ China President.