In another sign of China’s emergence as a hot market for technology partnerships, a biotech company launched through the University of Edinburgh (Scotland) has signed a multi-million pound deal to sell its products in China. Burdica Biomed, a Fife-based firm that develops personal lubricant products, has reached a partnership agreement with Sinopharm, China’s largest pharmaceutical and medical device distributor. Under the terms of the 10-year deal, Sinopharm will seek regulatory approval in China for Burdica’s products, which include a lubricant that improves fertilization. The regulatory process is expected to take 12 to 18 months. Thereafter, Sinopharm will distribute Burdica’s products in China. Burdica expects product sales in China to exceed £50 million in revenues.
The deal is a major coup for Burdica and for the university, which helped to launch the company in 2007 through its Edinburgh Pre-Incubator Scheme (EPIS). EPIS provided Burdica with space at the university as well as business mentoring support and an interest-free loan. “This is a huge success for Burdica and the university,” says Adrian Smith, program director of EPIS. “It shows that supporting innovation can have real results, with substantial financial consequences for Scottish companies and the economy.”
Source: EPIS