(21 May, 2015 - SHANGHAI) A consortium (the Consortium”) consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group (“Fosun Pharma” or the “Company”; stock code: 600196-SH,02196-HK), HOPU Investments, China Everbright Limited’s healthcare fund, and WuXi PharmaTech announced today that the Consortium has signed a merger agreement pursuant to which the Consortium will acquire Ambrx Inc. The transaction is expected to close in the second quarter of 2015, subject to receipt of certain regulatory approvals and satisfaction of customary closing conditions.

Ambrx is a clinical-stage biotechnology company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. Its proprietary technology platforms enable attachment of pharmaceutically active molecules to specific sites within proteins more precisely than prior generations of bio-conjugates. Ambrx has developed a pipeline of novel product candidates that include antibody drug conjugates, or ADCs, bi- and multi-specific drug conjugates and long-acting therapeutic proteins. ADCs are expected to be one of the most important areas of monoclonal antibody development, especially in targeted therapies for oncology, an area where Ambrx has a strong pipeline. Ambrx’s most advanced internally developed product is a site-specific ADC targeting Her2-positive breast cancer.

In addition to its pipeline, Ambrx collaborates with leading pharmaceutical companies, including Bristol-Myers Squibb, Merck, and Eli Lilly, on a series of projects including ADCs-oncology, bi-specific drug conjugates and long-acting therapeutic proteins. Ambrx’s most advanced collaboration product candidate in human health is ARX618, a long-acting fibroblast growth factor 21 for type 2 diabetes, for which collaboration partner Bristol-Myers Squibb is conducting Phase 2 clinical trials in the United States. To date, collaborations have provided Ambrx with over a hundred million US dollars in funding.

Chairman of Fosun Pharma, Mr. Chen Qiyu said, “This joint acquisition combining Fosun Pharma’s current R&D system and platform will result in great synergy. After the acquisition, Ambrx will obtain quality resources from its Chinese partners, so as to further advance the technical innovation of their research center which is based in the U.S., and to establish a global product development center based in China. We believe that, under the help of Fosun Pharma, Ambrx’s business expanding in China will enable Chinese patients to get faster access to innovative therapeutic drugs.”

Mr. Chen Qiyu further expressed, “this is a multi-win collaboration which brings together resources from leading China-based pharmaceutical enterprises and leading U.S.-based innovators in biologics development. For Chinese patients, it really is good news. Fosun Pharma hopes to continuously bring Chinese patients the world’s most advanced medicines and treatment.”

It is reported that, currently, the Company has an internationalized R&D deployment in place with strong R&D capability. The Company has established an interactive integrated R&D system located in Shanghai, Chongqing, and San Francisco, with an efficient R&D platform in the fields of small molecule innovative chemical drugs, macromolecular biosimilars, generic drugs of high difficulty, characteristic formulations, etc. Shanghai Henlius, a research and development platform of Fosun Pharma for macromolecular biosimilars, completed the registrations of clinical applications for five categories of monoclonal antibodies and seven types of indications.

"We are excited to advance Ambrx's development programs and technologies with members of the Consortium," said Ambrx's CEO and President Lawson Macartney, Ph.D., FRCPath. "I would like to thank Ambrx's employees and partners for their dedicated efforts to bring important new therapies to patients."