Fosun Pharma plans to increase capital of Fosun Kite by USD 50 million

On May 14, Fosun Pharma announced that its holding subsidiary Fosun Pharma Industry signed a contract with Kite Pharma. Proportional capital increase, and subscription of the new registered capital equivalent to Fosun Kite.

Fosun Kite is a joint venture of the Group, mainly engaged in the research and development, production and commercialization of tumor immune cell therapy products. The capital increase will be mainly used for Fosun Kite product commercialization and investment in R&D pipeline. After this capital increase, Fosun Pharma Industry's shareholding in Fosun Kite remains unchanged (still 50%), and Fosun Kite remains a joint venture of the Group.

Founded in 1994, Shanghai Fosun Pharma (Group) Co., Ltd. is an innovation-driven global pharmaceutical and health industry group rooted in China. Its direct operations include pharmaceuticals, medical devices, medical diagnosis, medical and health services. Participation in Sinopharm Holdings covers the pharmaceutical business field.

Fosun Kite Biotechnology Co., Ltd. is a joint venture between Shanghai Fosun Pharma Group and Kite (a subsidiary of Gilead Sciences) in the United States, focusing on the research and development, industrialization and commercialization of tumor cell therapy products for the benefit of Chinese patients.