Ascletis Gets Record Funding From China’s Hangzhou Development Zone For HIV/AIDs Drug Research

01 Feb 2012

• By Ying Huang

Hangzhou National Hi-Tech Industrial Development Zone awarded U.S.-China hybrid Ascletis a $1.6 million grant to fund research for HIV/AIDs drugs, the highest amount paid to date by a program aimed at wooing top Chinese national research talent back home.

SHANGHAI – U.S.-China hybrid Ascletis Inc. was awarded a $1.6 million grant to fund research into developing HIV/AIDs gene therapy drugs by the Hangzhou National Hi-Tech Industrial Development Zone (HHTZ), the highest amount paid to date by a program aimed at wooing top Chinese national research talent back home.

Chief Executive Officer Jinzi Wu, who resigned as vice president for GlaxoSmithKline Inc. HIV global discovery unit in March...