Fo­sun Pharma to in­vest in new tech in­cu­ba­tor

BioSpectrum (Asia) - - Finance News -

Shang­hai Fo­sun Phar­ma­ceu­ti­cal (Group) Co. will spend $73.5 mil­lion to set up a tech­nol­ogy in­no­va­tion in­cu­ba­tor which will be open to global in­no­va­tive tech­nolo­gies and projects via a wholly-owned sub­sidiary. It is aimed at pushing for­ward its in­no­va­tion and glob­al­iza­tion strate­gies. The in­cu­ba­tion plat­form will last for nine years. Pro­fes­sor Xu Tian, deputy head of the ge­net­ics depart­ment at Yale Univer­sity, will act as the chair­man of the in­cu­ba­tor’s aca­demic com­mit­tee to over­see plat­form op­er­a­tions and man­age­ment. The in­cu­ba­tor will look for, iden­tify and fos­ter in­no­va­tion ini­tia­tives across the world, fo­cus­ing on medicine, re­gen­er­a­tive medicine and ar­ti­fi­cial in­tel­li­gence projects, the state­ment noted. In fu­ture, it will in­vest in se­lected projects as a quasi-as­set man­age­ment com­pany. Fo­sun Pharma ap­pointed Pro­fes­sor Xu as chief science ad­vi­sor last year. He has been in­volved in sev­eral startup in­vest­ment and in­cu­ba­tion projects.

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