On 7 July 2017, Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd., (“Fosun Pharma”; Stock Code: 600196.SH, 02196.HK) announced that, together with Professor Xu Tian from Yale University, to establish a technology innovation incubation platform.

Professor Xu Tian, the vice chair of the Department of Genetics at Yale University, Mr. Chen Qiyu, the Co-President of Fosun Group and the Chairman of Fosun Pharma, Mr. Wu Yifang, the President and CEO of Fosun Pharma as well as Fosun Pharma senior management team attended the signing ceremony.

Fosun Pharma will make a capital contribution in full to the technology innovation incubation platform (the “Incubation Platform”), with Professor Xu Tian to be appointed as the chairman of the academic board of the Incubation Platform. Professor Xu Tian will be exclusively responsible for the overall operation and management of the Incubation Platform, as well as searching, discovering and encouraging innovation projects worldwide. No more than RMB500 million will be invested for the establishment of the Incubation Platform and project cultivation by Fosun Pharma.

It is introduced that, since the beginning of 2016, Professor Xu Tian, as the Chief Scientific Adviser to Fosun Pharma, has been working with the team of Fosun Pharma, to provide forward-looking guidance for Fosun Pharma in respect of product development and strategic investment fields. Through more than a year’s cooperation, both sides have jointly decided, through discussion, to establish a more systematic, long-term, stable and efficient global “deep incubation” platform for medical innovative technologies, so as to facilitate the rapid implementation of international cutting-edge innovative technologies in the PRC. Professor Xu Tian obtained a BS degree in genetics from Fudan University, and a PhD degree from Yale University, and he currently serves as the vice chair of the Genetics Department at Yale University, CNH Long Chair Professor, a researcher at the Howard Hughes Medical Institute, the director of the Institute of Developmental Biology and Molecular Medicine at Fudan University, etc. Professor Xu Tian is a main founder in the field of the growth regulation as well as a discoverer of the related signal transduction pathway. All these scientific discoveries provided new drug targets and drugs for the treatment of tumors and over a dozen of diseases; in addition, Professor Xu Tian is also the inventor of technologies including piggyBac transposon and mosaic inheritance, and owns over 20 international invention patents. As the chairman of the Scientific Advisory Board of the Rothberg Institute for Childhood Diseases in the U.S., Professor Xu Tian has participated in the investment and incubation of a number of start-up companies.

The Incubation Platform aims at having access to the international cutting-edge innovative technologies through the use of “deep incubation” model, and stressing internationalized transformation of scientific and technological innovation to realize the transformation and implementation of international cutting-edge innovative technologies, establish a long-term effective mechanism for the incubation of scientific and technological innovation, and facilitate the connection between Fosun Pharma and the cutting-edge innovative technologies and projects worldwide, so as to further advance the implementation of the innovation and internationalized strategies of Fosun Pharma.

Chen Qiyu, the Co-President of Fosun Group and the Chairman of Fosun Pharma, made a speech at the signing ceremony. He indicated that “the Incubation Platform will start from investment and incubation of innovative technology projects, focus on investment and incubation in precision medicine, artificial intelligence and other fields in the future, attract international top talents to set up an interdisciplinary team, integrate advantageous resources for technological breakthroughs, and realize the construction of a long-term effective mechanism for the transformation of scientific and technological innovation, so as to ultimately complete the cultivation of scientific and technological innovation transformation ecological culture.”

Professor Xu Tian fully affirmed the mutual cooperation and the “deep incubation” model. He indicated that “Technology innovation and result transformation are the keys to enhance economic development and to lead the world. After 40 years of Reform and Opening, China is now welcoming the great opportunities of technology and industry innovation. Growing up in the environment of Reform and Opening, Fosun Pharma makes its effort to develop the ‘global technology innovation center’ for Shanghai by establishing this technology innovation incubation platform, and I am glad that I can be part of it. ”

As an enterprise rooted and developed in Shanghai, Fosun Pharma adheres to its brand philosophy of “Innovation for Good Health”, always views innovation and R&D as the driving force for its corporate development, and effectively allocates innovation resources worldwide to develop its own products and services with technological innovation as its driving force. In terms of R&D and innovation, Fosun Pharma proactively “connected global resources with Chinese forces”, and actively explored various forms of international cooperation. For example, Fosun Pharma joined hands with global elite colleges and universities, such as University of California, Berkeley to establish VC fund through cooperation, and invested into shares in technological start-up companies. Currently, Fosun Pharma has participated in the investment of many VC funds in Shanghai, Israel, Silicon Valley, and Boston, and established VC and angel investment networks in the PRC or even in the whole world, seeking project opportunities at the very innovative source to reserve projects for R&D and industrialization in Shanghai. In the meantime, Fosun Pharma cooperated with world leading enterprises in professional fields to establish joint ventures in the PRC, such as the joint venture established in Shanghai together with Kite Pharma, a world leading enterprise in cell immunotherapy area, to jointly develop CAR-T cell immunotherapy approach, as well as joining hands with Intuitive Surgical, a leader in global robot-aided minimally invasive surgery, to jointly develop and produce products targeted on early stage diagnosis and treatment for lung cancer. In addition, Fosun Pharma directly introduced elite scientists or technical team for internal incubation through open and multi-win innovative mechanisms, such as Shanghai Henlius, the platform for macromolecular biosimilar of Fosun Pharma and now developing into a forerunner in the monoclonal antibody field in the PRC.

Looking ahead, Fosun Pharma will always adhere to its original entrepreneurial intention, proactively capture the historical opportunity of the construction of “global scientific and technological innovation center” in Shanghai, constantly expand its investments into innovation and R&D, effectively allocate its resources worldwide, and push forward the listing of world leading innovative products through independent R&D, technological introduction, cooperation and research and other ways, bringing benefits to the global patients.