SINGAPORE and CHINA – March 05, 2016 – InvitroCue Pte Ltd and InvitroCue Biomedical Service Suzhou, a wholly owned subsidiary, today jointly announced the expansion of a cell-based laboratory facility in Suzhou to enhance the company’s current service offerings, and to meet current and future growth of the drug development in China. The expansion is the latest in InvitroCue’s continued investment in China, and an important element of strategic investment plan.
The laboratory facility shall provide preclinical testing services to biopharmaceutical clients in Suzhou Industrial Park and in the greater Shanghai areas. The China subsidiary provides full-service offerings in cell-based assaying services, which include custom tissue development service, in vitro toxicology and in vitro skin and cosmetic product safety testing.
“For the past few years, InvitroCue has provided in vitro preclinical testing services out of Singapore, where we are now well-positioned to tap on China’s huge opportunities,” said Dr. Li Qushi, Head of Operations, China Business Unit, Suzhou.
Healthcare spending in China, the world’s second-largest pharmaceutical market, is forecast to reach $155 to $185 Billion a year by 2018, according to IMS Health. Multinational pharmaceutical companies have committed to tailor and develop fit-for-local drugs to meet unmet medical needs in the region.
Cosmetics spending pattens in China and the emergence of e-commerce are expected to drive up cosmetics sales in China. Animal tests are no longer mandatory for non-special use cosmetics produced in china – a move towards ending animal testing of cosmetics.
“We know that many cosmetics companies will be keen to sell in China without the risk that their products are tested on animals in China. InvitroCue is pleased to broaden the in vitro assays to testing requirements for the domestic skin products. We hope to make progressive steps in this area and contribute to the non-animal testing movement,” explained Dr Li.
The following new testing capabilities have been added to the Suzhou laboratory:
- In vitro Metabolism Assay Services for DMPK,
- In vitro Toxicity Testing Assays,
- Custom Tissue Model Development Service,
- In vitro Skin Irritation Test: EpiSkin,
- In vitro Skin Sensitization Test: DPRA, H-CLAT, and
- Consumer Product Safety Report w.r.t. Domestic Non-special Use of Cosmetic Products
With these capabilities, the Suzhou laboratory facility is able to support multinational companies in developing and testing new drugs and cosmetics products.
“As a Singapore based company, InvitroCue has delivered innovative technologies trusted by customers for the past years,” said Mr. Hui Kwok Leong, Deputy Director of NUS (Suzhou) Research Institute. “Together we have a shared vision and a singular focus to foster closer strong collaborative relationships with biopharmaceutical companies and hospitals in China”.
A similar Chinese version was announced on NUS (Suzhou) Research Institute 新国大苏研院孵化企业应求生物科技有限公司在澳大利亚上市
For more information, please contact:
Yip Ai San, VP Corporate Development
11 Biopolis Way, Helios
InvitroCue provides innovative products and services in the fields of in vitro DMPK, in vitro toxicology and digital pathology utilizing cell-based models and image analytics. InvitroCue’s technologies have been developed and validated together with leading pharmaceutical companies and scientific collaborators. The company uses in vitro technologies and assays to support better decision-making in preclinical drug studies and clinical research. Headquartered in Singapore and was spun out of Singapore, Agency for Science, Technology and Research (A*STAR), InvitroCue currently operates in Singapore and China. www.invitrocue.com
InvitroCue is listed on Australian Stock Exchange under ASX code “IVQ”.