SemBioSys Genetics Inc. (TSX: SBS has signed a product and platform development collaboration agreement with Tasly Pharmaceuticals, Ltd. of Tianjin China and its wholly owned subsidiary Tasly U.S.
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Upon receiving government approval, a new joint venture (JV) to be named Tasly-SemBioSys Pharmaceuticals, Ltd., will be incorporated in Tianjin.
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Tasly-SemBioSys will be structured as a Sino-Foreign Equity Joint Venture and will develop and commercialize a variety of products including pharmaceutical, functional foods and nutraceuticals for China and the world. Development work on the first products will begin immediately.
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Tasly will contribute 100 per cent of the cost of the JV’s global research, development and product commercialization. Further, Tasly will facilitate preclinical, clinical, regulatory services, manufacturing and commercial expertise and utilize its significant sales force to commercialize JV’s products in China.
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