WND partners with Dizal Pharma to incubate innovative drug maker

Wuxi New District signs an agreement with Dizal on the incubation of a new company specializing in the development of dermatological formulations. [Photo/WeChat account: xinwu_wx]

Wuxi National Hi-tech District, also known as Wuxi New District, in Wuxi, Jiangsu province inked a strategic agreement on Nov 21 with Dizal Pharma, a biopharmaceutical company, to establish a new company dedicated to the research and production of innovative dermatological formulations.

The initial phase of this venture is expected to involve an investment of 800 million yuan ($111.83 million), with plans for additional funding in subsequent stages. The new company's primary objective is to advance the research, development, and commercialization of innovative dermatological formulations, with an anticipated annual output of $1 billion upon completion.

Dizal Pharma is a pioneering homegrown biopharmaceutical company in Wuxi with a cutting-edge and integrated drug development platform. Zhang Xiaolin, chairman of the board at Dizal, affirmed that two advantageous pipelines for innovative drugs will be introduced to the new company to provide patients with more effective and secure treatment solutions.

In recent years, WND has forged close collaborations with international pharmaceutical giants such as AstraZeneca to foster leading enterprises in the biopharmaceutical sector. Dizal Pharma, a result of such collaborations, is the first biopharmaceutical project in the district to receive government investment exceeding 100 million yuan. The company achieved a swift four-year ascent to the Science and Technology Innovation Board, or STAR Market.