ESR and an unnamed Chinese joint venture partner have acquired a life sciences research and development business park for RMB268m (€39m).

The 8,940sqm Zhangjiang NEO facility in Shanghai spread over two blocks of pharmaceutical R&D lab and office space.

Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, said the investment marked ESR’s entry into the life sciences sector.

They said the group was looking to play into rising demand in the biopharma industry to address healthcare needs in China and across APAC.

“We will leverage our core competitive advantages by creating innovative new formats, such as shared laboratories, that meet pharmaceutical companies’ R&D needs,” they said.

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