Anaphore, Inc. has acquired Shanghai-based RuiYi Inc., gaining the company’s biologics drug discovery platform focused on the discovery and development of biologic therapies targeting G protein coupled receptors (GPCRs). RuiYi was founded by Raymond Stevens, Ph.D., of The Scripps Research Institute (TSRI) and TSRI alumni Fei Xu, Ph.D. of Shanghai, China.
"The acquisition of RuiYi in China allows Anaphore to access the substantial scientific expertise, capital and potential new collaboration opportunities in the Chinese pharmaceutical marketplace," said Paul A. Grayson, president and chief executive officer of Anaphore. "RuiYi also provides Anaphore a Wholly Foreign-Owned Enterprise (WFOE) in Pudong Shanghai, a necessity for conducting business in China, and establishes relationships with all of RuiYi's current collaborators."
"I am very excited about the opportunity to work with Paul and his creative team at Anaphore," said Dr. Stevens. "Anaphore's existing expertise in biologic drug development combined with RuiYi's knowledge in targeting GPCRs is an optimal alignment of talent, energy and resource to discover novel medicines to address human medical needs."