Commonwealth Biotechnologies, Inc., a provider of contract biotech research services, has selected China Medical City, a technology park outside Shanghai, as the location for its Venturepharm (Asia) joint venture.

The facility, dubbed the Venturepharm Innovation Center, will house a small molecule drug discovery laboratory organized to mimic the world class laboratories of Exelgen, Ltd, the small molecule subsidiary of CBI in the United Kingdom. It will have a strong program in molecular design, library synthesis, and high throughput chemistry, making it unique in China.

Said CEO Paul D'Sylva: "This key milestone … validates CBI's entry strategy into China by way of partnership with China's leading listed [Contract Research Organization]. And most importantly, it positions CBI to provide an expanded offering of world class R&D services at globally competitive prices." More.