Wuxi New District and Hunan Norchem Pharmaceutical sign a cooperation agreement on a new research institute. [Photo/WeChat account of Taihu Bay Sci-Tech Innovation City]

Wuxi New District signed a cooperation agreement with Hunan Norchem Pharmaceutical Co Ltd on July 8 for the establishment of a new research institute.

Norchem, one of the leading steroid drug manufacturers in China, operates more than 10 subsidiaries across various provinces and cities, with a total market value of 2.5 billion yuan ($344.66 million). The company's products are sold across the world.

The company has developed advanced production technology for biosynthetic surfactants and has a comprehensive R&D team. It plans to set up a research institute in Wuxi to collaborate with teams from Jiangnan University to develop new biosynthetic surfactants and cosmetic raw materials.

The Wuxi Synthetic Biology Industrial Park in WND, inaugurated in January this year, has introduced more than 10 projects, including those from Norchem, Carcell, and Vland Biotech.