AstraZeneca to form joint venture with Chinese Future Industry Investment Fund

AstraZeneca has announced a new partnership with the Chinese Future Industry Investment Fund (FIIF), with the aim of creating a new joint venture focused on the Chinese market.

The equally-owned standalone company will be called Dizal Pharmaceutical and will be dedicated to the discovery, development and commercialisation of medicines to address unmet health needs globally, and to bring new drugs to patients in China faster.

AstraZeneca's Innovation Centre China will offer its scientific and technical capabilities to support the new company, which holds exclusive rights to develop and commercialise three potential medicines currently in preclinical development at AstraZeneca.

This research will focus on key therapy areas such as oncology, cardiovascular and metabolic diseases, and respiratory medicine. Additional novel clinical programmes are also expected to be initiated, with the FIIF contributing funding and expertise to help establish strategic partnerships in China.

Pascal Soriot, chief executive officer of AstraZeneca, said: "AstraZeneca has a longstanding and strong commitment to China, which we are reinforcing today with this groundbreaking joint venture."

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