Almirall, S.A., a Barcelona-based global biopharmaceutical company dedicated to medical dermatology, inaugurated its first China office in Shanghai on Thursday, aiming to create additional opportunities for innovation in medical dermatology by combining the Spanish company's in-house R&D capabilities with Chinese collaborations.

The opening of the new office comes at a time when China is accelerating its life science capabilities and licensing deals in the pharmaceutical sector. As Almirall, which was founded in Spain in 1944 and delivered over 1.1 billion euros ($1.27 billion) in sales last year, expands its leadership in medical dermatology, the company's R&D and commercial expertise represent valuable capabilities for future Chinese partners with innovative technologies who are looking to commercialize them globally, the company said.

In 2022, Almirall established a partnership with Jiangsu province-based Simcere Pharmaceutical Group Ltd to develop a therapy initially targeting alopecia areata and atopic dermatitis. The two companies have been working closely to advance the clinical development of this innovative therapy.

"The inauguration of our new office in Shanghai underlines our collaborative approach to innovation and is a recognition of the life science potential in China, which is a global powerhouse today in the life science and pharmaceutical sector," Carlos Gallardo, chairman and CEO of Almirall, said.

"While we continue to invest in growing our in-house R&D capabilities in Barcelona, the complementary work in China will allow us to broaden our innovation potential through new partnerships," he said.