FRANKFURT (Xinhua): German pharmaceutical company BioNTech on Monday (March 16) announced its strategic alliance with the pharmaceutical arm of China's Fosun Group for the development and commercialisation of the Covid-19 vaccine in China.
The German company, headquartered in Mainz, and Fosun Pharma industrial, a subsidiary of Shanghai Fosun Pharmaceutical Co, Ltd, will jointly conduct clinical trials of BioNTech's mRNA-based vaccine in China, BioNTech said in a statement.
Fosun Pharma will pay BioNTech up to US$135 million in upfront and potential future investment and milestone payments, which includes an equity investment of US$50 million in BioNTech shares that is subject to Chinese regulatory approval.
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