China's Boji joins hands with AstraZeneca to promote TCM R&D

Photo taken on Nov. 7, 2021 shows the booth of AstraZeneca at the medical equipment and healthcare products exhibition area of the fourth China International Import Expo (CIIE) in east China's Shanghai. (Xinhua/Zhang Yuwei)

Boji Medical Technology Co., Ltd (Boji, 300404.SZ) signed a memorandum of strategic cooperation with the Chengdu office of multinational pharmaceutical giant AstraZeneca on November 5, during the fifth China International Import Expo, reported China Securities News.

The two sides agreed to work together on forging an industry highland of traditional Chinese medicine (TCM), with a new research and development (R&D) institution, located in the Chengdu Hi-Tech Industrial Development Zone in Chengdu, southwest China's Sichuan Province, under planning.

Boji is expected to provide AstraZeneca with multiple TCM R&D services including pharmaceutical research, clinical and non-clinical study, registration service and so on, as a bid to promote new drug development and secondary development of TCM together, according to the memorandum.

Boji has successfully undertaken a large number of TCM research and registration projects, having accumulated a great deal of project resources and customer channels, according to AstraZeneca. This cooperation will allow both companies to further explore new opportunities in innovative TCM varieties, promoting the transformation of research achievements.

Boji also believes that through combining its advantageous development experience in the TCM area with AstraZeneca's global development vision and localization strategy in the Chinese market, the two parties will jointly promote the international development of TCM, bringing benefits to people's health and livelihood.