Fochon Pharma Accelerates Small Molecule Innovative Drug R&D with New Chongqing Facility Inauguration

VCBeat (WeChat ID: vcbeat) has learned that on November 29, 2018, Chongqing Fuchuang Pharmaceutical Research Co., Ltd. (“Fuchuang Pharma”), which had just relocated to the Chongqing Academy of Science and Technology, reached a new milestone. Over the nine years since its establishment, Fuchuang Pharma has undertaken R&D on more than ten targeted innovative drugs with independent intellectual property rights, five of which have received approval for clinical trials. Among them, FCN-159 tablets, primarily indicated for the treatment of advanced solid tumors, have just been approved for clinical trials by the National Medical Products Administration.

Fuchuang Pharma was jointly established in 2009 by a team of overseas scientists and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”) along with its member enterprises. It is a national high-tech enterprise dedicated to the research and development of small-molecule chemical drugs.

On the morning of that day, Pan Yiqin, Deputy Mayor of Chongqing Municipality, and her delegation visited Fuchuang Pharma. They were accompanied by Chen Qiyu, Co-President of Fosun International and Chairman of Fosun Pharma; Wu Yifang, President and CEO of Fosun Pharma; and Wang Weibo, President and CEO of Fuchuang Pharma, who joined them for a tour and discussion. During the meeting, Wang Weibo shared his personal journey and motivations for choosing Chongqing as the base for his entrepreneurial venture. He introduced Fuchuang Pharma’s distinctive “two countries, three locations” model and its 24-hour non-stop relay R&D approach, and highlighted the research and development achievements made over the past nine years. He also expressed the Fuchuang team’s commitment and determination to take root in Chongqing and localize the commercialization of its innovative outcomes, with strong support from the Chongqing Municipal Government.

After listening to the company’s report and recommendations, Mayor Pan praised the innovative achievements and corporate culture of Fuchuang Pharma, and affirmed the sense of responsibility demonstrated by its parent company, Fosun Pharma, in adhering to innovation and internationalization, pursuing industry progress, and working for public welfare. She stated that Chongqing attaches great importance to the development of the pharmaceutical industry, particularly giving prominence to the sectors of biopharmaceuticals, medical devices, and traditional Chinese medicine. The Chongqing Municipal Government will strongly support the development of outstanding enterprises such as Fuchuang Pharma and Fosun Pharma in Chongqing.

That afternoon, Yang Liqiong, Deputy Director of the Chongqing Municipal Commission of Economy and Information Technology; Song Gang, Deputy Director of the Chongqing Municipal Commission of Commerce; Qin Shubin, Member of the Party Working Committee and Deputy Director of the Administrative Committee of Chongqing Liangjiang New Area; and Ding Jian, Academician of the Chinese Academy of Engineering, Dean of the School of Pharmacy at the University of Chinese Academy of Sciences, and Chairman of the Academic Committee of the Shanghai Institute of Materia Medica, Chinese Academy of Sciences, also visited Fuchuang Medicine.

“With the company’s rapid development, the original site could no longer meet R&D needs, making the construction of a new facility imperative. To better accommodate the company’s rapid growth and provide stronger support for focused innovative R&D, Fuchuang Pharma relocated to the Chongqing Academy of Science and Technology this year,” said Wang Weibo, President of Fuchuang Pharma.

Fuchuang Pharma’s new facility spans nearly 2,000 square meters and comprises chemical laboratories, biological laboratories, and office spaces, equipped with more advanced and comprehensive instruments and equipment. The chemical laboratories are outfitted with state-of-the-art synthesis and analytical instrumentation. The biological laboratories feature an SPF (Specific Pathogen Free) animal facility that meets national standards and has obtained certification, a Class 10,000 cleanroom cell culture laboratory, and a molecular biology laboratory, providing robust support for innovative drug research and development.

Academician Ding Jian, Member of the Chinese Academy of Engineering, Dean of the School of Pharmacy at the University of Chinese Academy of Sciences, and Chairman of the Academic Committee at the Shanghai Institute of Materia Medica, Chinese Academy of Sciences, expressed his heartfelt delight at the completion of Fuchuang Medicine’s new facility. Since 2012, Fuchuang Medicine has engaged in strategic cooperation with the Shanghai Institute of Materia Medica. Academician Ding stated, “Our collaboration with Fuchuang Medicine has been the most enjoyable, efficient, and productive. Under the leadership of President Wang Weibo, a scientist with both vision and strong leadership capabilities, Fuchuang Medicine has achieved remarkable results in innovative drug research and development. The development of China’s pharmaceutical industry is vital to the Chinese people; without universal health, there can be no comprehensive well-being for all. Chinese pharmaceutical enterprises must persist in pursuing original innovation to remain invincible in future development. I am confident that Fuchuang Medicine will achieve great success in Chongqing, develop more new drugs, and benefit patients.”

Qin Shubin, a member of the Working Committee and Deputy Director of the Administrative Committee of Liangjiang New Area in Chongqing, stated that the pharmaceutical industry is one of the pillar industries for the future development of Liangjiang New Area. He expressed his hope that Fuchuang Pharmaceutical would lead the pharmaceutical development within the industrial park in terms of innovation and internationalization. Liangjiang New Area will provide comprehensive support to Fuchuang Pharmaceutical in areas such as talent acquisition, government fund subsidies, and investment and financing services. Meanwhile, it will strive to secure more new policy pilots beneficial to corporate development, aiming to establish Fuchuang Pharmaceutical as a unicorn enterprise in the pharmaceutical industry and a benchmark innovative enterprise in Liangjiang New Area.

As Fosun Pharma’s innovative platform for chemical drugs, Fochon Pharmaceuticals is headquartered in Chongqing and remains steadfastly committed to innovative R&D. Currently, Fochon has established an international presence across “two countries and three locations”—Chongqing and Shanghai in China, and San Francisco in the United States—enabling a 24/7 relay-style R&D model. This approach accelerates the advancement of best-in-class small-molecule chemical drugs for the treatment of cancer and metabolic diseases into clinical trials. Fochon’s innovation capabilities and outstanding achievements have been recognized by the Ministry of Science and Technology of China; in 2017, the company was designated as a “National High-Tech Enterprise.” To date, more than 20 Patent Cooperation Treaty (PCT) international patent applications filed by Fochon have been published, with over 70 patent applications entering national phases in multiple countries. Moreover, the company has received support from the Major National Science and Technology Projects of the Ministry of Science and Technology of China for four consecutive years.

Song Gang, Deputy Director of the Chongqing Municipal Commission of Commerce, stated, “Fosun’s strategic layout and deep-rooted presence in Chongqing have contributed to the city’s economic and social development, particularly by driving the growth and technological innovation of Chongqing’s pharmaceutical industry. Since the establishment of Fosun’s Southwest Regional Headquarters in Chongqing last year, cooperation between both parties has further expanded. Currently, innovation has become the primary driver leading industry development. Chongqing strongly supports the pharmaceutical sector. As the core area of the China (Chongqing) Pilot Free Trade Zone, Liangjiang New Area has fostered a robust innovation ecosystem through five key pillars: fiscal and tax support, talent incentives, achievement commercialization, sci-tech finance, and administrative services. This will help enterprises like Fosun advance new drug R&D more efficiently and promote the healthy and sustainable development of the pharmaceutical industry.”

Yang Liqiong, Deputy Director of the Chongqing Municipal Commission of Economy and Information Technology, stated, “From the Fosun team, I have sensed a spirit of pioneering innovation, proactive endeavor, resilience in the face of difficulties, and courage to scale new heights. Through its R&D platform in Chongqing, Fosun Pharma has gathered talent from both domestic and international markets to jointly drive R&D innovation. The Chongqing municipal government attaches great importance to the pharmaceutical industry, prioritizing its development as a key strategic focus. I sincerely hope that Fosun Creative Medicine and Fosun Pharma will localize their R&D achievements in Chongqing to achieve industrialization. Furthermore, I hope that more professional, international R&D teams like Fosun Creative Medicine will converge in Chongqing, working together to strengthen and expand Chongqing’s pharmaceutical industry for mutual benefit.”

Fosun Pharma has always regarded innovation as the core driver of its corporate development. It has established four major R&D platforms covering innovative chemical drugs, biologics, high-value generic drugs, and cellular immunotherapy. The company has built efficient international R&D teams in China, the United States, India, and other regions, forming a globally integrated R&D system. Through diversified collaborations, Fosun Pharma connects with cutting-edge global innovative technologies to promote the global development and commercialization of frontier products. In the first three quarters of 2018, Fosun Pharma’s R&D expenses totaled RMB 1.114 billion, representing a year-on-year increase of 59.13%.

Wu Yifang, President and Chief Executive Officer of Fosun Pharma, stated, “Fosun Pharma’s business spans the entire healthcare industry chain, encompassing pharmaceutical manufacturing and R&D, medical services, medical devices and diagnostics, as well as pharmaceutical distribution and retail. Since 2002, Fosun Pharma has been investing and establishing its presence in Chongqing, particularly in pharmaceutical R&D and manufacturing. Entities such as Pharmablock Laboratories (Chongqing) Pharmaceutical Co., Ltd. (Youyou Pharmaceutical), Fochon Pharmaceuticals, and Chongqing Institute of Pharmaceutical Industry have achieved remarkable results in innovation and internationalization. The Chongqing municipal government attaches great importance to the pharmaceutical industry and provides strong guarantees and support for the development of pharmaceutical enterprises. Looking ahead, Fosun Pharma will continue to deepen its roots in Chongqing, steadily increase its investment in the region, and actively contribute to the growth of Chongqing’s pharmaceutical industry.”

In 2017, Fosun Group established its Southwest China headquarters in Chongqing, creating a strategic hub for the region and introducing globally competitive industries and services in pharmaceuticals and healthcare, transportation infrastructure, technology and education, as well as culture, sports, and tourism. Fosun Pharma signed a strategic cooperation agreement with the People’s Government of Yubei District, Chongqing Municipality, to further advance collaboration in the areas of general health and innovative R&D.

Chen Qiyu, Co-President of Fosun International and Chairman of Fosun Pharma, stated, “Chongqing has always been one of the key strategic regions in Fosun’s global layout. Currently, Fosun and Chongqing Municipality have launched extensive and in-depth cooperation in various fields, including biopharmaceuticals and innovative R&D, as well as functional real estate for finance, logistics, and trade. Centered on Fosun’s happiness ecosystem encompassing health, happiness, and prosperity, we aim to work closely with the Chongqing Municipal Government, enterprises, and all stakeholders to deeply integrate into Chongqing’s economic and social development by engaging in four major industrial sectors: healthcare industry development, transportation infrastructure construction, advancement of science and education, and growth of the culture, sports, and tourism industries. Fosun will continue to explore comprehensive sectoral deployment, deepen its presence in Southwest China, introduce the world’s best services and industries, support the upgrading of Chongqing’s urban functions, and meet diverse market demands. In the strategic development of Chongqing’s industrial structure and urban function upgrades, Fosun is poised to make significant contributions.”