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Burrill & Company and Beijing Pharmaceutical Group Form Strategic Partnership to Capture Cross-Pacific Life Sciences OpportunitiesApril 11, 2006
San Francisco, CA - April 11, 2006
Burrill & Company, a San Francisco-based global life sciences leader, today announced that it has formed a global strategic partnership with Beijing Pharmaceutical Group Co. Ltd. (BPGC), one of the largest pharmaceutical and medical devices conglomerates in China, to capture cross-Pacific life sciences opportunities. The two companies signed a partnership agreement at the Second Annual China Life Sciences Partnering Meeting in Chicago on April 8, 2006.
Functioning as a bridge linking China and the Western world, Burrill Greater China Group (BGCG) will help BPGC acquire advanced Western technology and products to address unmet market needs in China. BGCG will help BPGC form strategic alliances with Western biotechnology and pharmaceutical companies in drug development and generic drug manufacturing. Working closely together, the partners will carry out a series of cross-boarder bio-partnering and M&A projects.
In 2005, Burrill & Company engineered the transfer of the Oxygent technology from Alliance, a San Diego-based company, to Double Crane, one of BPGC’s subsidiaries. "We should broaden and enhance our existing successful work relationship with Burrill & Company," said Mr. Huacheng Wei, BPGC’s Chairman. "By leveraging BPGC’s leadership position, inexpensive yet high-quality drug R&D and manufacturing compatibilities, and extensive sales and marketing network in China, we will work with Burrill to lead the growth of China’s life sciences industry."
"We're honored to add BPGC to our family of outstanding global strategic partners," said G. Steven Burrill, CEO of Burrill & Company. "Burrill will provide its deep life sciences knowledge and experience, and global network and resources, to assist BPGC to become a leading player in the global pharmaceutical industry."
"BPGC and Burrill, two leaders on the two sides of the Pacific Ocean, have joined forces to establish a critical cross-Pacific bridge, which will allow the global pharmaceutical industry to tap into China’s efficient drug development and manufacturing resources, and allow China to become an integral component in the global pharmaceutical value chain," said Jonathan Wang, General Manager, BGCG.
BPGC, one of China’s largest pharmaceutical and medical devices conglomerates, has activities in R&D, manufacturing, marketing and international trade. BPGC develops, manufactures and markets Western pharmaceuticals, biopharmaceuticals, health products, pharmaceutical raw materials, inter-mediates, medical equipments and medicine manufacturing equipments. The company owns Beijing Double Crane Pharmaceutical Co., Ltd., Beijing Zizhu Pharmaceutical Co.; Ltd., Beijing Wanhui Pharmaceutical Group, Beijing Saike Pharmaceutical Co., Ltd., Beijing Wandong Medical Equipment Co., Ltd., Beijing Pharmaceutical Co., Ltd., The National Institute of Pharmaceutical Research & Development and Beijing Medical Equipment Institute. Over the recent years, BPGC has set up over ten joint ventures with foreign pharmaceutical companies, such as Novartis (Switzerland), Fresenius Kabi (Germany), Mundipharma International, Hanmi (Korea), Create (Japan).
For more information, please visit Beijing Pharmaceutical Group’s website at www.bpgc.com.cn
About Burrill & Company
Burrill & Company is a San Francisco-based global leader in life sciences with principal activities in venture capital, merchant banking and media. It has over $625 million venture capital funds under management and has completed over $1.5 billion merchant banking transactions. The company has an over 50-person team, supported by its Advisory Boards, the strategic and financial network of its Limited Partners, and the close relationships with numerous life science companies.
Burrill & Company has established the BGCG to expand its business to Greater China, including Mainland China, Taiwan and Hong Kong. Leveraging its network and resources in both sides of the Pacific Ocean, BGCG bridges the life sciences industries in Greater China and the Western world to capture China-related venture capital investing and merchant banking opportunities. For more information, please visit Burrill & Company's website at www.burrillandco.com.
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