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news.AstraZeneca biologics arm MedImmune and WuXi AppTec have formed a joint venture (JV) to develop and commercialize MEDI5117, a new biologic for autoimmune and inflammatory diseases for China.
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As part of the JV, MedImmune will provide technical and development support while WuXi AppTec will provide local regulatory, manufacturing, pre-clinical and clinical trial support.
MedImmune Research and Development executive vice president Bahija Jallal said WuXi AppTec, MedImmune will co-develop MEDI5117 to address Chinese health care needs.
"This strategic partnership will enable us to establish a leadership presence in developing novel biologics in China, complementing AstraZeneca’s investment in this important emerging market," Jallal added.
WuXi AppTec will earn revenue based on services while MedImmune will gain milestone payments as the program progresses.
WuXi AppTec chairman and CEO Ge Li said the JV will develop and manufacture a product to be used in China.
"WuXi is working to build long-term drug development partnerships with leading biopharmaceutical companies like MedImmune to help accelerate the development of novel medicines for the large and rapidly growing Chinese pharmaceutical market," Li added.