The company's scope of business includes: technology development, technology transfer, technology consulting and technology services and transfer of technology results in the field of biotechnology and medical technology (except diagnosis, treatment, psychological counseling, human stem cells, gene diagnosis and treatment technology development and application); pharmaceutical production; chemical products (except dangerous chemicals, monitoring chemicals, fireworks, civil explosives, and easy-to-poison chemicals), instruments and meters, mechanical equipment import and export, wholesale and commission agency (except auction), investment consulting (except finance and securities), etc.
On March 30, 2020, Fosun Pharmaceuticals, the controlling subsidiary of Fosun, entered into an agreement with KP EU C.V. (hereinafter referred to as Kite 5 Pharma) to develop and implement the technology development and application of genetic diagnosis and treatment of human cells. (hereinafter referred to as "Kite 5"), the controlling subsidiary of Fosun Pharmaceutical Industry and KP EU C.V. (hereinafter referred to as "Kite 5") entered into the Amendment to Sino-foreign Cooperative Business Contract (III), pursuant to which Fosun Pharmaceutical Industry and Kite Pharma intend to increase their capital in proportion to their respective equity interests in Fosun Kite Biotechnology Co. (hereinafter referred to as "Fosun Kite") based on their respective equity interests in Fosun Kite Biotechnology Co. Upon completion of such capital increase, the Company will still hold 50% equity interest in Fosun Kate.
On July 6, 2020, Fosun Pharmaceutical Industry, the controlling subsidiary of the Company, and Kite Pharma entered into the "Amendment to the Sino-foreign Cooperative Business Contract (IV)", pursuant to which Fosun Pharmaceutical Industry and Kite Pharma proposed to increase the capital of Fosun Kate according to the proportion of the equity interest in Fosun Kate held by each of them. Among them, Fosun Pharmaceutical Industry intends to contribute US$10 million to the new registered capital of Fosun Kite in the form of cash equivalent to US$10 million in Renminbi (with the exchange rate based on the mid-price between the US dollar and Renminbi as announced by the People's Bank of China on the date of actual capital contribution). Upon completion of such capital increase, the Company will still hold 50% equity interest in Fosun Kate.
On September 17, 2020, Fosun Pharmaceutical Industry, a subsidiary of the Company, and Kite Pharma entered into the "Amendment to Sino-foreign Cooperative Business Contract (V)", pursuant to which Fosun Pharmaceutical Industry and Kite Pharma proposed to increase the capital of Fosun Kate in accordance with the proportion of their respective equity interests in Fosun Kate. Among them, Fosun Pharmaceutical Industry intends to make a cash contribution to the additional registered capital of Fosun Kite of US$6 million with an equivalent value of US$6 million in RMB (the exchange rate is based on the mid-price between USD and RMB as announced by the People's Bank of China on the date of the actual capital contribution). Upon completion of such capital increase, the Company will still hold 50% equity interest in Fosun Kate.
Fosun Kite, a joint venture between Fosun Pharma and Kite Pharma (a Gilead Sciences company), is dedicated to the research and development and industrialization of tumor immunocell therapy products, and in March 2020, the company's first new drug listing application for its CAR-T cell therapy product, Akirenzai Injection (FKC876), was accepted for priority review by the Drug Review Center of the State Drug Administration of China. Review Center for Priority Review, becoming the first CAR-T cell therapy product in China to have its marketing application accepted (currently under review and not yet approved for marketing in China). Meanwhile, a nearly 10,000 square meters CAR-T industrialized production base has been completed and opened in Zhangjiang Innovative Pharmaceutical Industry Base, ready for the approval of the product for marketing. In addition, the 2,000-square-meter cell therapy R&D center and a team of innovative talents are focusing on CAR-T/TCR-T early-stage R&D and clinical evidence-based stage projects through independent innovation and international cooperation to create a sustainable innovation R&D pipeline.