LONDON and HONG KONG, Feb. 19, 2018 /PRNewswire/ -- Arix Bioscience plc (LSE:ARIX) ("Arix Bioscience" or the "Company"), a global healthcare and life science company building and financing innovative young medical businesses and Fosun International Limited (00656:HK) ("Fosun"), jointly announce a strategic agreement to develop and commercialise new clinical therapies for patients.
As part of the agreement, Arix and Fosun will collaborate to invest in and 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. This is Arix's third strategic partnership and follows the success of its existing agreements with Takeda Ventures, Inc., and UCB Pharma S.A..
Arix will provide Fosun with access to its Group Businesses, pipeline and unique network of key professional and scientific advisors. In turn, Fosun will share potential investment opportunities in China and will have a potential opportunity to promote its services as exclusive distribution partner in China for Arix's Group Businesses. China is the world's second largest pharmaceutical market after the US and presents a great opportunity for Arix and its Group Businesses. The relationship with Fosun provides a unique footprint and network in the region.
Joe Anderson, Chief Executive Officer of Arix Bioscience plc, commented: "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."
"Fosun's extensive footprint and network in China will enhance Arix's already strong sourcing power and provide our Group Businesses the opportunity of developing a deep relationship with a leading distribution partner in China. Arix will share its unique pipeline, sourced from a wide network of global contacts, and its rigorous scientific due diligence process. Together, we look forward to addressing significant unmet medical need in China and beyond."
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. Arix is the ideal partner for Fosun given its experienced team, specialist healthcare knowledge, capability and network. 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 with multiple value-creating milestones expected over the next 18 months. The Company expects to continue to build on its already rich pipeline, utilising this to provide funding and expertise to additional new Group Businesses in 2018.
About Arix Bioscience plc
Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.
Arix Bioscience plc is listed on the Main Market of the London Stock Exchange. For further information, please visit www.arixbioscience.com
About Fosun International
Fosun International Limited is a family focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB500 billion (c.US$75 billion). With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.
