On May 9, 2011, four companies—Beijing Northland Biotechnology Co., Ltd., Beijing Northland Pharmaceutical Technology Co., Ltd., South Korea’s Humedix Co., Ltd., and Beijing Lint Medical Technology Co., Ltd.—held a signing ceremony in Beijing to jointly invest in the establishment of a Sino-foreign joint venture. More than 40 leaders and representatives from organizations including the Management Committee of the Eastern Zone of the Economic Development Zone in Tongzhou District, Beijing; Peking University Third Hospital; the Beijing Center for Promotion of Biotechnology and New Pharmaceutical Industries; and the Embassy of the Republic of Korea in China attended the signing ceremony.

This time, the participating parties are investing in Beijing to establish a joint venture company. The initial total investment is planned to be 50 million yuan. The company’s tentative name is Beijing Huonland Pharmaceutical Technology Co., Ltd. The company will be located in the Eastern Zone of the Economic Development Zone in Tongzhou District, Beijing. Its primary business activities will include the research and development, production, and sales of ophthalmic drugs and low-dose injectables. Through multi-party cooperation, the company will introduce Humedix Corporation of South Korea’s high-quality products as well as advanced production and management technologies. By leveraging the respective strengths and resources of all parties involved, the joint venture will be developed into a world-class ophthalmic drug manufacturing base—both domestically and internationally—providing high-quality, efficient products and generating significant economic and social benefits.

At the signing ceremony, Mr. Xu Songshan, Chairman of Beijing Northland Biotechnology Co., Ltd., and Mr. Yoon Sung-tae, Chairman of South Korea's Humedix, delivered speeches on behalf of their respective investing parties. Chairman Xu Songshan stated that, upon completion of the agreement, we will honor our commitments, collaborate sincerely, organize and design scientifically, and carry out construction meticulously. We will also strengthen the integration of resources among all parties in various areas such as R&D, production, sales, and team building, strive to start production as soon as possible, and make the joint venture bigger and stronger, thus achieving a shared vision and benefiting public health and well-being. In his address, Chairman Yoon Sung-tae first introduced the long-standing achievements and background of cooperation and exchanges between China and South Korea in politics, economics, and other fields. He expressed firm confidence in China’s investment environment and pledged to fully leverage his company’s cGMP technology to vigorously promote the development of the joint venture.
The leaders attending the ceremony congratulated all parties on their establishment of the joint venture and fully recognized their joint commitment to developing ophthalmic pharmaceutical products and other related offerings in Beijing. In his speech, Secretary Liu Xuefeng from the Eastern Zone of the Economic Development Zone in Tongzhou District, Beijing, stated that as an enterprise resident in the Economic Development Zone, the local government will actively fulfill its functions and provide the best possible environment and comprehensive services to support the company’s development. He expressed hope that all parties would make full use of the national policies and resources designed to attract foreign investment, engage in scientific planning, promptly complete construction projects, produce high-quality and efficient products, and play a leading role in promoting regional economic development. Furthermore, he emphasized their willingness to make positive contributions to enhancing China-South Korea exchanges and friendship, as well as to advancing the cause of human medical health.

The signing ceremony venue