Wolves’ Chinese parent signs new medtech deal
A global healthcare company financing innovative medtechs has forged a new partnership with Chinese mega-business, Fosun International, to develop and commercialise new clinical therapies for patients.
Hong Kong-listed Fosun, which is conservatively estimated to have total assets of around £53.5bn (c.US$75 billion), is the parent of Championship football club, Wolverhampton Wanderers.
Its new agreement with Arix Bioscience will see the partners collaborate on investments which create new companies focused on the development of innovative clinical therapies across a broad range of therapeutic areas, with a particular emphasis on the Chinese market.
The agreement is Arix’s third strategic partnership and follows the success of its existing agreements with Japanese pharmaceuticals group, Takeda Ventures, and Brussels-based biopharmaceuticals group, UCB Pharma.
Under the terms of the partnership, Arix, whose UK base is in London, will provide Fosun with access to its group businesses, pipeline and network of key professional and scientific advisors.
In turn, Fosun will share potential investment opportunities in China and have the opportunity to promote its services as exclusive distribution partner in China for Arix’s group businesses.
Arix said China was the world’s second largest pharmaceutical market after the US and presented a great opportunity for expansion in a key region.
Joe Anderson, CEO, Arix Bioscience, said: “Arix and Fosun share a common goal in identifying and developing improved medical options for patients. Through this agreement we will bring together Fosun’s wealth of experience in the China market with Arix’s experience in growing companies to develop innovative new therapies and build value.”
Guo Guangchang, chairman of Fosun Group, added: “Today’s announcement marks an important step for Fosun as an innovation-driven healthcare company and adds a truly excellent partner to Fosun’s portfolio of global alliances, following the acquisition of Gland Pharma in India and the joint venture with Kite Pharma in China.
“Together, this strategic partnership leverages Fosun’s strengths and has the potential to identify and grow the innovative companies of the future, while bringing cutting-edge therapeutics into China and greatly improving the lives of Chinese patients.”
Arix has made investments into 13 innovative life science companies in 2016 and 2017 – including several in the UK – which it expects to with multiple value-creating milestones expected over the next 18 months.
