ShangPharma Restructures CRO and CMO Ops

ShangPharma has unveiled plans for a corporate restructuring. The company will be consolidating the contract research organizations (CRO) and contract manufacturing organizations (CMO) under Shanghai ChemPartner. These entities include ChemPartner Shanghai, ChemPartner Fengxian, ChemPartner Chengdu, ChemPartner US, ChemPartner Europe, China Gateway Pharmaceutical Development, China Gateway Biologics, ChemExplorer Hong Kong, S.A.R., China, and ChemExplorer Shanghai.

The company says its intention is to enter the capital market in China, mainly through a merger approach.

"ShangPharma is committed to the best interests of our employees, our clients, our business partners, and our investors," said Michael Hui, chairman and chief executive officer, ShangPharma. "Executing a successful restructuring will provide access to capital and maximize shareholder value. Shanghai ChemPartner will continue to operate independently, and the current leadership team will remain intact. I am proud of the level of success the company has achieved, and I look forward to accomplishing this major milestone."

"The corporate restructuring plan is an integral part of ShangPharma's global growth strategy for its CRO and CMO organizations," said Livia Legg, chief commercial officer, Shanghai ChemPartner, and general manager, ChemPartner US and ChemPartner EU. "This strategic maneuver enables Shanghai ChemPartner to better serve its clients, expand its global presence and access new markets."

Over the past fifteen years, ShangPharma has built a global workforce and range of CRO and CMO services. Shanghai ChemPartner will continue to offer a broad range of drug discovery and development capabilities including discovery biologics, discovery chemistry, discovery biology, DMPK, CMC, and biologics manufacturing. ChemPartner serves a diverse global client base and operates laboratories and business offices in the U.S., Europe, China, and Japan.