Founded in 2007, Micot is a pharmaceutical innovation enterprise dedicated to the research and development of new polypeptide drugs. [Photo/micot.cn]
Micot Technology Co, a global innovation polypeptide drug leader, signed an agreement with Suzhou New District (SND) on July 3 to set up a base for the research and development and industrialization of its new polypeptide drugs.
The company will invest 550 million yuan ($78.6 million) for the first phase of the project, which covers 65,000 square meters and is expected to generate annual sales of 5 billion yuan once reaching target output.
Lu Chunyun, deputy mayor of Suzhou, expressed his gratitude for Micot's investment and hoped the company to work as an example, help attract more leading companies to the city, and hence improve Suzhou's competitiveness.
Wang Bing, general manager of Micot, said the company plans to take advantage of SND's industrial background and help its products reach out to the global market.
Founded in 2007, Micot is a pharmaceutical innovation enterprise dedicated to the research and development of new polypeptide drugs. The company has brought together talents from both academic and industrial circles. It businesses mainly cover purification of polypeptides and production of sustained-release preparations. It has established 17 product lines, which can deal with five kinds of diseases including ischemic heart disease, stroke, antithrombotic, nervous system injury and degeneration, and diabetes.
