ShangPharma Corporation (NYSE:SHP) announced that it has achieved the initial milestones for two multi-staged projects in its biologics division, which portends strong growth for this segment in 2011. The initial milestones were achieved for two oncology projects that are under development for a major U.S.-based pharmaceutical company. ShangPharma launched the projects at the beginning of this year and reached these milestones earlier than anticipated. As a result, the Company is advancing into the second phase of development ahead of schedule. ShangPharma is also conducting another multi-stage project in immunology for the same client, and expects to reach the initial milestone in the near-term.

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