C&R Research Provides Clinical Trial Services in China
Korea-China R&D Joint Venture C&R-Lewei Establishes Strategic Partnership with Beijing’s Baiao Pharma
Seoul, Korea, September 20, 2018 — C&R-Lewei JV signed a strategic partnership agreement on July 17 with Beijing’s Baiao Pharma to improve drug development and licensing efficiency.
C&R Research, a Korean CRO, established an R&D joint venture C&R-Lewei JV with Beijing’s Lewei Bio & Tech, a Chinese consulting firm specialized in licensing transactions. The joint venture provides product registration and clinical trial services in China with C&R Research’s 20 years of expertise in clinical trial and licensing.
Baiao Pharma, established in 1995, is one of the top 100 Chinese pharmaceutical companies with multiple representative pipelines including Lumbrokinase, a drug for Ischemic Cerebrovascular Disease. The company has been classified as an advanced technology company with continuous R&D investments, and it has been well-noted for its technology. Baiao has been supported by Chinese Biopharmaceutical Cultivation Policy.
By working with C&R-Lewei JV, Baiao Pharma expects to strengthen their drug development process and improve related efficiency. They seek to resolve the bottleneck of clinical trials for Baiao Pharma’s new drug approval and bioequivalence tests of generic drugs. The companies have agreed to run 4 local studies (worth 5 billion KRW) in 2018, and the contract expires in 5 years.
A C&R-Lewei JV official said, “This agreement is only the first step toward the global market and improving our competence. We plan to support Korean bio ventures and pharmaceutical companies with excellent pipelines expand to the global market at a reasonable cost.”