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Ascletis Lands $1.6 Million R&D Grant from Hangzhou Park

publication date: Jan 4, 2012
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Ascletis, a US-China joint venture pharmaceutical company, received a 10 million RMB ($1.6 million) R&D grant from the Hangzhou National Hi-Tech Industrial Development Zone (HHTZ), the site of its China operations. According to Ascletis, the award is the largest grant ever made to a startup company from the HHTZ "5050 Plan.” Financial backing seems to come naturally to Ascletis. In April of 2011, Ascletis was launched with an initial funding of $100 million. More details....

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