THOUSAND OAKS, Calif. and SHANGHAI, Sept. 24, 2013 /PRNewswire/ -- Amgen (NASDAQ: AMGN) and ShanghaiTech University today announced the two organizations have entered into a memorandum of understanding (MOU) to form a strategic partnership for the advancement of biopharmaceutical discovery and translational research in China. This agreement includes plans for Amgen to open a China research and development (R&D) center at ShanghaiTech University.
"Amgen and ShanghaiTech University share mutual goals of scientific excellence and rigor and will benefit from each other's strength and expertise in advancing biopharmaceutical discovery in China," said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. "Expansion into China is a business priority for Amgen and opening this R&D center is another clear and important step forward in Amgen's commitment to the China market."
Under the terms of the MOU, Amgen will co-locate its China R&D center with ShanghaiTech University's two life science institutes: the Shanghai Institute for Advanced Immunochemical Studies (SIAIS) and the iHuman Institute.
"We are pleased to be partnering with Amgen," said Professor Mianheng Jiang, chairman of Executive Committee of ShanghaiTech University. "ShanghaiTech aims to build a research-oriented university that provides a dynamic approach to learning and ultimately solving problems facing society. This partnership is a commitment to develop more effective bio-medicine for the benefits of the patients in China and in the whole world."
"We are excited about this unique opportunity to work with ShanghaiTech University," added Mingqiang Zhang, Ph.D., vice president of China Research and Development at Amgen. "The combination of Amgen's industry-leading expertise in biopharmaceuticals and the world-class academic excellence of scientists at the SIAIS and iHuman institutes of ShanghaiTech will be a very powerful force in advancing drug discovery and development. We aim to address unmet medical needs that are particularly relevant for patients in China."
"We are delighted that Amgen, a key player in the global biologics sector, will be co-locating its China R&D center at ShanghaiTech University," said Professor Richard A. Lerner, founding director of Shanghai Institute for Advanced Immunochemical Studies, an antibody research institute of ShanghaiTech University. "We aim to become one of the world's leading antibody research institutes and the co-location of Amgen's China R&D center with us will help to steer our research to be more applicable and to ultimately help patients in the fight against serious illnesses."
Amgen expects its China R&D center will be fully operational in 2014.
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be the world's largest independent biotechnology company, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.
About ShanghaiTech University
ShanghaiTech University is a research university in the making. Recently endorsed by China's Ministry of Education, it is jointly sponsored and organized by the Shanghai Municipal Government and the Chinese Academy of Sciences (CAS), with the former being responsible for operation.
Founded by ShanghaiTech University on October 12th, 2012, the Shanghai Institute for Advanced Immunochemical Studies (SIAIS) aims to become a first-class, leading antibody research institute in the world. It focuses on elucidating the most fundamental problems in life science research, particularly in immunochemistry. Its international governing board is comprised of world recognized scientists, including pioneering antibody researchers and Nobel Prize winners in Chemistry.
About iHuman Institute
The iHuman Institute is a new international effort established as a research institute located on the campus of ShanghaiTech University. What makes the iHuman Institute special is that it is focused exclusively on the basic and applied science of human cell signaling, integrating multiple tools for scientific discovery, and bringing together leading researchers throughout the world. Cell surface receptors and their related intracellular proteins are responsible for human cellular communications with each other and their environment, and are involved in a wide range of physiological activities. Such a central role in human biology makes cell signaling the target for intervention for tuning physiological responses and fighting numerous conditions and diseases. These proteins are central to understanding the evolution of mankind and human cognition at a molecular level.
Amgen Forward-Looking Statements
This news release contains forward-looking statements that involve significant risks and uncertainties, including those discussed below and others that can be found in our Form 10-K for the year ended Dec. 31, 2012, and in any subsequent periodic reports on Form 10-Q and Form 8-K. Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results may differ materially from those we project. The Company's results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments (domestic or foreign) involving current and future products, sales growth of recently launched products, competition from other products (domestic or foreign), and difficulties or delays in manufacturing our products. In addition, sales of our products are affected by reimbursement policies imposed by third-party payors, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment as well as U.S. legislation affecting pharmaceutical pricing and reimbursement. Government and others' regulations and reimbursement policies may affect the development, usage and pricing of our products. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors. We depend on third parties for a significant portion of our manufacturing capacity for the supply of certain of our current and future products and limits on supply may constrain sales of certain of our current products and product candidate development. In addition, we compete with other companies with respect to some of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock.
Ashleigh Koss, 805-313-6151 (media)
Brunswick, +86 (10) 5960-8600 (China media)
Arvind Sood, 805-447-1060 (investors)