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Nov.
28, 2003
MISSISSAUGA,
November 28, 2003 - Yes Biotech Laboratories Ltd.
headquartered in Mississauga has partnered with Asia
Pacific Biotech Co. Ltd., the Shanghai Science and
Technology Investment Co. (Shanghai City government) and
Pudong Science & Technology Investment Co. in a
joint venture to create the Asia United Antibody Medical
(AUAM) Co. Ltd. in Pudong, China. The first stage of the
investment is US$6 million, and a further investment
will be secured by the end of next year.
The
new manufacturing facility built in the Shanghai (Z.J.)
Hi-Tech Park in Pudong, will also house research and
development of novel, humanized antibody medicines for
the treatment of cancer, cardiovascular disease, as well
as SARS and other inflammatory diseases.
Mayor
Hazel McCallion was on hand for the facility's opening
ceremony together with Dr. George Ye, president of Yes
Biotech Laboratories. "For a Mississauga-based
company like Yes Biotech to partner with the Shanghai
city government and the other joint venture investors
increases their international reputation,"
commented Mayor McCallion. "Once again,
Mississauga's expertise is being sought after from a
global perspective."
"It
is a huge honour for Mayor McCallion to have attended
the opening in China," notes David Brown, Manager,
Business Development, City of Mississauga. "In
Asia, the status and powers of mayors are very broad and
their involvement with these kinds of projects is viewed
as very important."
The
City's Economic Development Office assists
Mississauga-based companies to grow and prosper in this
new global economy.
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About
Mississauga
Mississauga
is a distinct major Canadian city. As Canada's sixth
largest city, it is considered a municipal leader in
fiscal responsibility, technology and urban development.
Mississauga provides its citizens with state-of-the-art
facilities and programs and is recognized as the safest
city in Canada to live, work and play.
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