ShangPharma Innovation Expands Incubator to Drive Life Science Innovation in Bay Area
SOUTH SAN FRANCISCO, California, March 19, 2018 — ShangPharma Innovation Inc., a global venture capital firm focused on filling the critical investment gap that exists for the earliest-stage therapeutic breakthroughs, has expanded its life science incubator by nearly 40 percent and updated the facility with additional state-of-the-art laboratory infrastructure and conferencing space.
The ShangPharma Innovation Incubator facility, located in the heart of the South San Francisco biotech corridor, provides science-driven entrepreneurs with affordable access to the resources they need to advance their discoveries through preclinical proof-of-concept. With this growth and renovation, ShangPharma expands its incubator to 32,000 square feet, adding 9,000 square feet to accommodate a number of additional emerging companies.
“ShangPharma is answering the call for more space and essential resources for healthcare innovators in the San Francisco Bay area,” says Walter H. Moos., Ph.D., CEO of ShangPharma Innovation. “This region is brimming with potentially transformative ideas for new drugs, diagnostics and other healthcare discoveries. But without the right support, these ideas run the risk of dying on the vine.”
The incubator is co-located with ShangPharma Innovation’s venture capital team, which makes seed-stage and Series A investments in life science entrepreneurs, and with Shanghai ChemPartner, a leading contract research organization providing services spanning discovery chemistry, discovery biology and preclinical development through manufacturing for small molecules and biologics.
Through its standalone business incubator, ShangPharma Innovation seeks to contribute to a regional ecosystem that helps bring promising new therapeutic solutions to light. Since the ShangPharma Innovation Incubator was established in 2016, resident companies have included Circle Pharma, IDEAYA Biosciences and Applied Molecular Transport (AMT).
About ShangPharma Innovation Inc.
ShangPharma Innovation Inc. is a healthcare venture capital firm that accelerates and facilitates pharmaceutical discovery and development. With a focus on therapeutics and technology platforms, ShangPharma Innovation offers funding, incubator space and other support to its ecosystem of portfolio companies, collaborators and partners. This includes sponsoring biotech start-ups and proof-of-concept research at major academic and medical centers and research institutes. ShangPharma Innovation maintains active research partnerships with University of California San Francisco; The Scripps Research Institute and the California Institute for Biomedical Research (Calibr) in La Jolla, Calif.; and the nonprofit research center SRI International. For more information, see https://www.spiivc.com.
Corporate Communications Contact:
Canale Communications on behalf of ShangPharma Innovation
Heidi Chokeir, Ph.D.