On November 26, 2012, Fosun Pharma signed a co-development agreement with Dalian Wanchun Biotechnology Co., Ltd. ("Dalian Wanchun" for short) and set up a joint venture -- Dalian Wanchun Pharmaceutical Co., Ltd. for R&D non-small-cell carcinoma to further focus on its main business and to promote its capability in R&D innovation. This cooperation will combine the industrialized platform of Fosun Pharma and the R&D resources advantage of Dalian Wanchun to achieve the objectives of resource complementarity, mutual benefits and common development.
Dalian Wanchun’s clinical candicator Plinabulin is the class-one new drug in China. The Phase-II clinical trial for indication non-small-cell carcinoma of this project has been completed by Nereus Inc. in the U.S. Dalian Wanchun is located in Dalian, Liaoning Province. The founder Dr. Huang Lan is a member of the “National Plan to Introduce Overseas High-level Talents” and has rich experience in the design and development of anti-tumor drugs, biotechnological project review as well as corporate investment and operation.
After the establishment of Dalian Wanchun Pharmaceutical Co., Ltd., this joint venture will then be responsible for the clinical approach, clinical trial and then launch approval of Plinabulin in China.
Through this cooperation, Fosun Pharma will be able to integrate itself with overseas superior resources, enhance innovation capability of the corporate, enrich its R&D pipe line and lay a solid foundation for the endogenous growth of the group's industrial segment. Dalian Wanchun Pharmaceutical Co., Ltd. will also serve as an incubation platform for the innovation projects of Fosun Pharma, promote the industrial development of the Group and be beneficial to the company vision of "becoming the first-tier enterprise in the global mainstream pharmaceutical and healthcare market."