Chinese pharmaceutical and biotechnology company ShangPharma Corporation has reached the first milestone in its collaboration with Jiangsu Hengrui Medicine to develop novel therapeutic monoclonal antibodies. Michael Xin Hui, the founder and CEO of ShangPharma, said: ‘We are delighted that this ground breaking collaboration … in China is rapidly producing results. We believe that reaching this strategically important milestone is just the first of many achievements that the relationship between ShangPharma and Hengrui will yield.’ The long-term partnership includes three further milestone targets, with the overall aim of delivering a drug candidate.