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HUYA Bioscience, TIPR form JV for new medical technologies in global markets

HUYA Bioscience International (HUYA) has entered into a joint venture agreement with Tianjin Institute of Pharmaceutical Research (TIPR) to develop medical technologies and therapies, originating in both China and the western world, for global markets.

The new joint venture (JV) will be known as TIPR-HUYA Advancing Innovative Medicines (TIPR-HUYA-AIM).

Under the deal, the two firms will share equally in decision-making regarding product development and commercialization as well as initially focus on the fast-growing Chinese market.

The new JV combines HUYA’s global development experience with TIPR’s credentials and commercial success within China.

Both the firms will identify and assess medical opportunities both within and outside China.

In order to accelerate the development of products for both the Chinese and global markets, the JV will use TIPR’s infrastructure and HUYA’s global network.

HUYA Asia chief technology officer and chief operating officer Clement Gingras said the partnership is a logical extension of the HUYA business model and an exciting strategic step given the flow of data and knowledge sharing it will create.

"TIPR boasts an incredible track record in commercialization of pharmaceutical products and we are delighted to join forces to broaden their access to worldwide markets," Gingras said.

TIPR president Dr. Lida Tang said, "The collaboration with HUYA will not only help TIPR progress its current projects in accordance with international standards, but also capitalise on our technical capabilities and infrastructure within China by exploring in-licensing opportunities both in China and in the rest of world."