United BioPharma (UBP, 6471) announced that construction will begin on a state-of-the-art biopharmaceutical manufacturing plant in China to support the development of key innovator, biobetter and biosimilar monoclonal antibody(mAb) drugs for the China market through its subsidiary, UBP (Yangzhou).
To expand the huge market on mAb drugs in China, UBP has decided to collaborate with Yangzhou high technology industry park (揚州高新技術産業開發區) for construction of a world-class cutting edge biopharmaceutical facility in Yangzhou. The collaboration agreement between the two parties was signed in April, 2017. In addition, UBP has registered and established two subsidiary companies in Shanghai and Yangzhou a clinical development center and protein drug manufacturing bases respectively.
YangZou high technology industry park offered several favorable conditions as incentives when inviting UBP to build a biopharmaceuticals manufacturing base in Yanzhou. UBP Yangzhou subsidiary has signed an RMB$ 250 million, long -term, low -interest- rate loan agreement with Yangzhou high technology industry park on March 3rd. This fund is to support the manufacturing plant construction, process-related equipment procurement and early stage operation.
The China therapeutic monoclonal antibody (mAb) market in 2016 is estimated to be about RMB$ 10.4 billion and is expected to reach RMB$ 30 billion by 2022 according to projections by market analysts. With technology and pipeline support of UBP, the UBP China subsidiaries will rapidly assemble a China team in Shanghai and Yangzhou, aiming to complete clinical development of 2-3 mAb drug candidates within 5 years.
About United BioPharma (6471)
United BioPharma (UBP) is a clinical stage biotech company dedicated to the research, development and manufacture of innovative biobetter and biosimilar monoclonal antibody therapeutics for infectious, cancerous and immunological diseases.
With development and manufacturing conducted at UBP’s headquarters in Huko, clinical research centered at the Company’s facility in ChuBi, and business operations overseen at UBP’s Taipei offices, UBP is effectively positioned to employ its cutting edge solid integrated technology platform and utilize its state-of-the-art research and manufacturing facilities to address unmet medical needs in mankind to improve patient health and quality of life.
For more information, please visit http://www.unitedbiopharma.com
United BioPharma Forward-Looking Statements
The information in this press release should be considered accurate only as of the date of the release. UBP has no intention of updating and specifically disclaims any duty to update the information in this press release. The press release may contain forward-looking statements involving risks and uncertainties and UBP’s actual results may differ materially from those in the forward-looking statements.
Victor Run-Ben Sun
Spokesperson and Vice President of Public Affairs