Fosun Pharma: Signs licensing agreement with NewCo, obtaining rights to develop AR1001 drug in China.

Fosun Pharma announced on July 28th that its subsidiary Fosun Pharmaceutical Industry signed a licensing agreement with NewCo, obtaining the rights to develop, register, produce, and commercialize AR1001 drug in the agreed upon areas and fields. According to the agreement, Fosun Pharmaceutical Industry will pay up to 150 million yuan as an upfront payment and milestone payments. As of the date of this announcement, there are no drugs approved for the treatment of Alzheimer's disease with the same target worldwide.