A young pharmaceutical startup has signed an agreement with a local non-profit to share research space.

The Hamner Institutes for Health Sciences will host Ascletis, which works to develop new treatments or cancer and infectious diseases by licensing the rights of drugs in late-stage clinical trials, in its RTP headquarters.

Ascletis, which is been backed by Chinese investors, maintains a 30,000-square-foot facility in Hangzhou, China. Prior to this new joint venture, the company had not established a U.S. research base. In addition to licensing experimental drugs, the company's scientists will work to develop compounds and team up with larger pharmaceutical companies to develop them into new treatments for China and the global market.

The new arrangement will make Ascletis the first company of its kind based in both China and the Triangle.

The president and CEO of Ascletis, Jinzi J. Wu, a former vice president of global HIV drug discovery at GlaxoSmithKline, will manage the facilities in both countries. The company's top management will be based in the Triangle but the majority of scientists will work from China.

Hamner had previously been working with Chinese businesses and a medical research park in China to develop and test new medicines in both countries.

This new arrangement was formally established through a Memorandum of Understanding signed by Governor Bev Perdue and Mr. Zhao Hongzhu, Party Secretary of Zhejiang Province and Chairman of the Standing Committee of Zhejiang Provincial People's Congress with the goal of fostering economic development and trade.

North Carolina and Chinese officials signed an agreement Tuesday to create a biosciences gateway in Research Triangle Park for pharmaceutical, biotechnology and other businesses that want to expand in either country.

The partnership is tied to Chinese President Hu Jintao's three-day visit to the United States and signals China's interest in increasing its economic ties with North Carolina.

"Our purpose today is fairly simple: We want to learn how North Carolina can collaborate and build strong partnerships with you," Gov. Bev Perdue told a delegation of more than 100 Chinese politicians, investors and business leaders in Durham.

Perdue noted that she's planning a return visit to China in the fall and hopes to call on businesses interested in adding jobs in this state.

The agreement signed Tuesday morning calls for a 150,000 square-foot research facility that's expected to open in 2013 on the RTP campus of the Hamner Institutes for Health Sciences. The nonprofit Hamner will work with Chinese investment firm XY Group to identify opportunities for companies, universities and others.