Anaphore, a pharmaceutical company based in La Jolla, Calif., has acquired Shanghai-based RuiYi, bringing the company a biologics drug discovery platform focused on biologic therapies targeting G protein coupled receptors (GPCRs).
The acquisition allows Anaphore to access the substantial scientific expertise, capital and potential new collaboration opportunities in the Chinese pharmaceutical marketplace, according to Paul A. Grayson, president and CEO of Anaphore. It will also provide the company a Wholly Foreign-Owned Enterprise (WFOE) in Pudong Shanghai, a necessity for conducting business in China, and establishes relationships with all of RuiYi's current collaborators.
"Anaphore's existing expertise in biologic drug development combined with RuiYi's knowledge in targeting GPCRs is an optimal alignment of talent, energy and resource to discover novel medicines to address human medical needs,” said Dr. Raymond Stevens, founder of RuiYi and new member of Anaphore board of directors.
Anaphore also appointed Peppi Prasit, founder and CEO of Inception Sciences, to its board of directors.