Cooley assisted Cholesgen on its three-year co-operation contract with AstraZeneca, the British pharmaceutical giant, led by partner Christina Zhang.
This transaction targets the development of drugs for hypercholesterolemia and other metabolic diseases. The two companies will establish a joint research committee to guide the research team in developing drugs based on new targets.
While AstraZeneca bought the exclusive rights to develop the collaborative projects for clinical purposes, Cholesgen will receive an initial payment, followed by the corresponding payments for licensing the clinical development of each project.
Cooley said this project is an innovative step of exploring collaboration between internationally renowned pharmaceutical companies and Chinese biopharmaceutical companies, and reflects the overall trend of translating Chinese basic scientific developments into global industry innovations.
In 2022, AstraZeneca reported a profit of RMB40 billion (USD5.52 billion) and became the most profitable international pharmaceutical company in China.
