In the near future, Guangzhou plans to introduce more innovative bio-pharmaceuticals that ordinary people can afford.

On Dec 20, biopharmaceutical company Innocare started construction on its development center in the Guangzhou Development District. The center will develop and produce new drugs targeting cancer treatment and autoimmune diseases.

A rendering of the development center. [Photo/Guangzhou Daily]

A total of 2.1 billion yuan ($304 million) will be invested into the center, which is located in Sino-Singapore Guangzhou Knowledge City and is scheduled to be completed in 2019. 

InnoCare's mission is to develop effective treatments for cancer and autoimmune diseases. It has an elite Scientific Advisory Board (SAB) comprised of professionals from leading universities, hospitals, academic institutions and the pharmaceutical industry. The company has successfully developed more than 100 new drug patents and potential new drugs, with a number of independent and globally-patented products entering the international clinical trial stage, and more than ten potential new drugs entering the preclinical stage.

The Innocare development center will engage in the research, development and production of two new potential drugs: ICP-022 and ICP-093, which will be used in the treatment of cancer and autoimmune diseases. In the future, the center will also cooperate with other companies on the research, development and production of more new drugs.

The ground-breaking ceremony for the development center in Sino-Singapore Guangzhou Knowledge City is held on Dec 20. [Photo/Xinhua]