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Chinese Research Group Lands Financing

November 5, 2007 | A version of this story appeared in Volume 85, Issue 45

ShangPharma, a Shanghai-based contract research organization (CRO) whose subsidiary, Shanghai ChemExplorer, has a major contract with Eli Lilly & Co., has received a $30 million investment from the investor group TPG. ShangPharma, which claims to be China's leading CRO, says it plans to expand in the areas of assay development, compound screening, and drug metabolism and pharmacokinetic studies. It also plans to establish a current Good Manufacturing Practices-certified manufacturing facility.

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