Fosun Pharma to divest Shanghai Clone stake for biotech innovation funding

Shanghai Fosun Pharmaceutical Group, through its subsidiary Fosun Pharma Industrial, plans to transfer its 100% equity in Shanghai Clone for up to 1.256 bn yuan. Shanghai Clone primarily owns property at 1289 Yishan Road, Shanghai. This divestment aims to refocus on core businesses and enhance asset operating efficiency. The proceeds will be channeled into the group’s innovative drug business.

The transaction involves Fosun Pharma Industrial contributing 54.6m yuan as an LP to establish a special fund with Hony Tianjin and Zhonghui Life, which will then acquire Shanghai Clone. The special fund has a planned fundraising target of 547m yuan. Fosun Pharma Industrial will hold 9.98% of the fund’s property share.

The company will continue to lease a portion of the property for operations post-transfer, anticipating no significant impact on its daily business. The transaction has been approved by the board of directors.