China’s Jiangsu Hengrui Medicine is accelerating its move towards innovation by increasing investment and partnerships, as part of a strategy to shift its focus away from its traditional generic business. It is now providing substantial funding to a new US-based spinoff aiming to develop oncology biologics and immunotherapies and to act as an innovation bridge between the US and China.
SHANGHAI - Together with a US investment firm, China-listed Jiangsu Hengrui Medicine Co. Ltd. has committed to investing $100m in a new US-based start-up, Hengrui Therapeutics Inc (HTI), which is looking to advance a number of clinical programs with a focus on oncology as a foundation for long-term growth.
The heavily invested projects include large molecules and immunotherapies, and are indicative of Hengrui’s ambition to seize opportunities in the...
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