French pharmaceutical company Sanofi announced the establishment of Sanofi Institute for Biomedical Research, its first global research institute in China, in Suzhou, Jiangsu province, neighboring Shanghai on Tuesday.

Located in the Suzhou Industrial Park, the research institute, which is the fourth of its kind by the company after the three in France, Germany and the United States respectively, will focus on early-stage research in the areas of oncology, immunology and inflammation, the company said.

Covering an area of 4,000 square meters, the research institute will become a facility with an annual investment of nearly 20 million euros ($24 million) over the coming five years. At least 50 scientific research specialists will be on board before the end of 2022, according to the company.

The institute will actively participate in China's biopharmaceutical research and development ecology, help empower China's innovation engine by realizing local innovation from the ground up, and accelerate the transformation of R&D results into drugs, the company said.

Laurent Bili, French ambassador to China, said at the inauguration ceremony, "The operation of the research institute will promote the deepening of collaborations among biopharmaceutical enterprises, the local academia, the scientific research circle and clinical medical institutions to push forward the development of an innovative ecosystem and help Suzhou build to new heights in the biomedical sector."

Pius S. Hornstein, country lead for Sanofi China, said that the company is dedicated to carrying forward its advantages in global R&D strengths and local insights and actively participating in China's innovation ecosystem to contribute to the country's 14th Five-Year Plan and its 2035 vision.

"The institute will help us realize the vision and become a powerful engine for us to gather local innovation efforts and R&D advantages and ultimately benefit a wider range of patients," he said.