Chinese Research Group Lands Financing | Chemical & Engineering News
Volume 85 Issue 45 | p. 11 | Concentrates
Issue Date: November 5, 2007

Chinese Research Group Lands Financing

Department: Business

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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