Pfizer and Chinese Biotech Company Team Up
NetVation DL Medicine (DL Medicine), a biopharmaceutical company based in China, has scored a two-year collaboration deal with Pfizer, one of the largest companies in the industry. Together, these companies will conduct research into innovative treatments for patients around the world. Furthermore, the deal allows Pfizer to take a financial stake in the Chinese company.
What Will the Companies Research?
Even before this deal with Pfizer, DL Medicine partnered with HitGen to access the company’s DNA-encoded library. The latest partnership will allow all companies involved to leverage this database to discover new interventions for a variety of illnesses.
“We are delighted to announce this collaboration with Pfizer, and we look forward to working together to potentially discover new chemical entities for the treatment of diseases that negatively impact the health of patients worldwide,” said Dr. Wei Chen, the CEO of DL Medicine. As the former leader of drug discovery at HitGen, Chen is intimately familiar with the DNA-encoded library and the program’s potential.
As is the nature of these deals, the exact cures and treatments this partnership may produce is a mystery. However, DL Medicine has made breakthroughs in metabolic, inflammatory, and cancer-related diseases in the past. It’s likely that we’ll continue to see innovation in those areas.
Why Pfizer Invested
As part of this agreement, Pfizer made a serious financial investment in the smaller company, DL Medicine. Yuan-Hua Ding, the Executive Director of External Science and Innovation at Pfizer, believes this research will help the global business heal more patients than ever before.
“New target ideas and novel chemical matter are critical to our success in bringing new therapies to patients around the world,” he said. “This collaboration represents our worldwide commitment to partnering with companies that are doing innovative scientific work to help enhance our portfolio across multiple disease areas.”
Why China?
It’s probably no accident that Pfizer chose a China-based company as its partner in this endeavor. Not only is DL Medicine uniquely qualified to take on this project, but the company is also situated in a booming research and development market. Over the past 20 years, China has become a global leader in scientific discovery. In fact, the country has soared past both the United States and the European Union in this area regarding money spent and outcomes.
The newfound partnership between DL Medicine and Pfizer may bring about some critical medical advancements. Learn more about DL Medicine and Pfizer to follow this significant deal.
