Jul 11, 2023 04:01 AM

BUSINESS

Fosun Partners with Rongcan Biotech to Eye Alternatives to Develop mRNA Drugs

By Bao Zhiming and Denise Jia

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What’s new: Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (600196.SH) is exploring a new option to develop mRNA-based drugs after its mRNA vaccine failed to receive approval for use on the Chinese mainland.

Shanghai Chemo Wanbang Biopharma, a unit of Fosun, announced a strategic cooperation agreement with RongCan (Shanghai) Biotech Co. Ltd. to jointly develop mRNA drugs and provide related contract development and manufacturing organization (CDMO) services.

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