Dynasty – the story so far
First of all we need to get the nomenclature straight so that all understand the difference between Dynasty and the Dynasty Project:
- Dynasty (or Dynasty Bio) refers to the company that acts as the global vehicle for life-sciences projects being funded in China. The full company name is Dynasty Biotechnology Limited and the legal entity is registered in England, company No. 8398992. Dynasty enjoys extraordinary support from both Chinese and European institutions and authorities.
- The Dynasty Project, on the other hand, is the catchall name given to the idea of life sciences and pharmaceutical cooperation between Europe and China. The Dynasty Project is also supported by both Chinese and European government officials and departments, recognising the opportunity for mutual benefit.
The Dynasty Project idea was first conceived by Dave Tapolczay whilst advising the Chinese government on healthcare strategy in connection with his role as CEO of MRCT. Several entities, under different business models, were created in the period before Dynasty Biotechnology Limited was established. These entities typically included the word ‘Dynasty’ in their name but have no relationship with Dynasty Biotechnology and are now dormant.
The Dynasty Biotechnology Model
The successful implementation of the Dynasty Project, embodied within Dynasty Bio, commercialises European life sciences innovation and addresses key healthcare needs in China in return for product development funding. By partnering with Dynasty, the technology Sponsors – the UK or European companies who originate the innovative products developed by Dynasty – gain accelerated Regulatory Approvals, low cost funding for product development, access to the Chinese market, early proof of their technology or platform and the opportunity to benefit from rapid commercialisation of their IP in both China and the rest of the world.
Crucially, the technology Sponsors retain a substantial share of downstream revenue or value.
- Dynasty thus allows innovative companies to generate value from their work in the form of revenues and in the form of funding for future investment in innovation
- Dynasty addresses global healthcare issues, whilst rewarding and protecting Europe’s innovation capability
- Dynasty enables European innovators to hold on to the downstream value they generate
- Dynasty Bio brings the Sino-Europe Dynasty Project to life.
History: testing the model
Initially the task for the team was to test the model. Could Chinese investment really be applied to develop European innovation in China?
Dynasty CEO Dr Simon Haworth took on the CEO role for a small, innovative bioinformatics company spun out of Nottingham Trent University. Simon helped CompanDX raise royalty-based investment in China, funding over £1m of product development in China in the first year alone, and engaged a prominent Chinese contract research organisation (CRO) to undertake the work. The engagement with this CRO, Shanghai Newsummit Biopharma Group (NSB), has deepened to that of a close partnership and the CompanDX experience serves to prove the Dynasty business model.