AsianScientist (Dec. 14, 2016) – Global healthcare company Sanofi and Chinese biotech JHL Biotech, Inc. have announced a strategic alliance to collaborate on the development and commercialization of biological therapeutics in China, with the possibility of international expansion.
Under the agreement, Sanofi will invest US$80 million in newly issued JHL shares at NT$90 (~US$2.80) per share. In addition, Sanofi will make an upfront payment of US$21 million to acquire exclusive rights for the proposed biosimilar of Rituximab and options to certain JHL pipeline products.
JHL will lead the development, registration, and manufacturing activities while Sanofi will lead commercialization efforts in China. JHL is entitled to receive milestones of up to US$236 million and sales royalties.
The collaboration brings together complementary capabilities of the two companies and represents a commitment to expanding patient access to affordable high quality modern therapies through local development of biologics in China.
“Today is a turning point in JHL’s history,” said Racho Jordanov, co-founder and CEO of JHL Biotech, “In our alliance with Sanofi, we are combining JHL’s development and manufacturing expertise with Sanofi’s strengths in commercialization. Together, we will make high-quality medicines affordable to more patients in China.”
“The alliance reflects Sanofi’s long-term commitment to invest in China and to provide access to high quality therapeutics to Chinese patients,” said Dr.Jean-Luc Lowinski, President of Sanofi China and SVP of Sanofi Asia.
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Source: JHL Biotech; Photo: Sanofi/JHL Biotech.
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