On January 16, 2017, Fosun Pharma announced that it was establishing a sino-foreign cooperative enterprise with Kite Pharma through its wholly owned subsidiary; introduced world-leading technology and key products for cancer treatment to benefit cancer patients using cutting-edge therapy.

　　“Apart from increased efforts in our R&D, we strive to cooperate with the best and most advanced enterprises in the world, said Guo Guangchang, Chairman of Fosun Group. “We want Shanghai to become an influential global technological innovation center through our investments and cooperation,” he added.

　　Fosun Pharma’s wholly owned subsidiary intends to invest up to US$80 million in the cooperative enterprise, which is incorporated in Shanghai. Through the cooperation, it will establish a leading industrial platform for T cellular immunotherapy in China by utilizing resources of both parties. The cooperative enterprise will leverage the industry experience and operating capability of Fosun Pharma and the world-leading research and development capabilities of Kite Pharma.

　　“Going forward, both parties will continue to strengthen the cooperationand and increase their investment; cooperate to produce, research and develop world-leading products for treatment, while also build a core platform for immunotherapy products with the Shanghai cooperative enterprise. In addition, they will continue to promote the development of Chinese innovative treatment solutions, offering more leading products and services for cancer patients in China and throughout the world,” said Chen Qiyu, Chairman of Fosun Pharma.