AstraZeneca commits $2.5bn to Beijing R&D expansion

BEIJING - AstraZeneca PLC (LSE/STO/NASDAQ:LON:AZN) has announced a significant $2.5 billion investment to expand its research and development (R&D) and manufacturing capabilities in Beijing. This move includes the establishment of a new global strategic R&D center and collaborations with local biotech firms.

The investment, spread over the next five years, will see AstraZeneca (NASDAQ:AZN) partner with the Beijing Municipal Government and the Beijing Economic-Technological Development Area. The new R&D center is AstraZeneca’s second in China and sixth globally, expected to bolster its workforce in Beijing to 1,700 employees.

CEO Pascal Soriot highlighted the investment as a testament to AstraZeneca’s belief in Beijing’s life sciences ecosystem and its commitment to China. The center will focus on early-stage research and clinical development, with a new AI and data science laboratory. Located in the Beijing International Pharmaceutical (TADAWUL:2070) Innovation Park, it will be positioned near top biotechs, research hospitals, and the National Medical (TASE:BLWV) Products Administration.

In addition to the R&D center, AstraZeneca is entering R&D collaborations in Beijing, including a strategic partnership with the Beijing Cancer Hospital for translational research, data science, and clinical development. The company has also signed agreements with Harbour BioMed to discover multi-specific antibodies and with Syneron Bio to develop macro-cyclic peptides.

Furthermore, AstraZeneca is launching a joint venture with BioKangtai to create a vaccine manufacturing facility within the Beijing BioPark. This facility will focus on developing and commercializing vaccines for respiratory and other infectious diseases for the Chinese market and globally.

As part of the development of the Beijing innovation ecosystem, Soriot has been invited to join the Beijing International Business Leaders Advisory Council.

This expansion aligns with AstraZeneca’s global strategy, emphasizing the discovery, development, and commercialization of prescription medicines across various therapeutic areas. The company, headquartered in Cambridge, UK, delivers innovative medicines to over 125 countries, impacting millions of patients worldwide.

This investment announcement is based on a press release statement and reflects the company’s strategic initiatives without endorsing the claims.

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