US drug firm signs agreement to build Suzhou subsidiary

Suzhou New District signs a cooperation agreement with Qurgen Inc, a US-based company with core technologies in regenerative medicine, to establish a Suzhou subsidiary in the district on June 27. [Photo/snd.gov.cn]

Suzhou New District signed a cooperation agreement with Qurgen Inc, a US-based company with core technologies in regenerative medicine, to establish a Suzhou subsidiary in the district on June 27.

With a total investment of over 1.5 billion yuan ($232.24 million), the Suzhou subsidiary will work on anti-tumor drugs with a global pharmaceutical center, a cancer R&D center, and a biomedical manufacturing plant for the large-scale production of biomedicine globally.

Qurgen Inc would like to develop in the Yangtze River Delta with the Suzhou subsidiary and a Sino-US joint laboratory of regenerative medicine sponsored by the Institute of Biomedical Sciences of Fudan University, said Guo Ming, CEO of Qurgen Inc.

Founded in Michigan, the United States in 2012, Qurgen Inc has gathered a group of the world's top experts in the biomedical industry and is valued at nearly $1 billion. The company has created two innovative therapies to deal with problems caused by traditional cancer treatment.

SND is the only State-level high-tech industrial park in Jiangsu province that emphasizes the development of the medical device and biomedical industry. It has established the goal of attracting global companies like Qurgen Inc to boost its development in the biomedical industry.