Shenzhen Institute Of Biological Research Signs $440 Million Drug Development MOU With Israel's Zion Medical

The Shenzhen International Institute of Biological Research signed a memorandum of understanding with Israeli pharma Zion Medical to develop two drug candidates in China. Zion said the value of the deal was $440 million. Details of the MOU are not known, though some investment in Zion, a virtual company, is included, and probably SIIBR will contribute early-stage drug development on the candidates, a strong suit of the institute. One of the molecules is a cancer treatment, the other a cure for AIDS/HIV with a novel mechanism. Both molecules were discovered at the Hebrew University of Jerusalem by Prof. Abraham Loyter and in-licensed by Zion.