Athens, October 23rd, 2013
PRESS RELEASE
ΣELLAS LIFE SCIENCES GROUP: COMPLETION OF THE AGREEMENT
WITH FOCHON PHARMA, MEMBER OF FOSUN PHARMA GROUP
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A € 400 mil. investment by Σellas over the next 4 years
Σellas acquires the worldwide rights for two molecules for the
development of innovative therapies for Τype II Diabetes and Lung
Cancer
This is a vote of confidence in Σellas with a clear scientific and
innovative character by the leading Chinese pharmaceutical in
drug discovery.
Σellas Life Sciences Group, a a Swiss based privately- held company operating
internationally in the development of drugs and medical equipment and conduction
of clinical trials, signed today a cooperation agreement with the Chinese Fochon
Pharma, member of the Chinese Fosun Pharma. This is an initiative that
demonstrates the dynamic potential of companies like Σellas and their ability to
take the lead in clinical research and the realization of projects with significant
research, scientific and innovative character.
Specifically, the cooperation of Σellas Life Sciences Group with Fochon Pharma,
member of Fosun Pharma, concerns the development of two innovative therapies
for Type II Diabetes and Lung Cancer which were discovered by Fochon Pharma
and whose worldwide rights have been secured by Σellas Life Sciences Group in
order to develop them, by conducting clinical trials, both internationally and in
Greece. Fochon Pharma, under the terms of this agreement, assigns to Σellas the
worldwide –excluding China- rights for development, marketing, sale and
distribution of two novel molecules for Type II Diabetes and Lung Cancer.
Within the frame of the agreement, Σellas is realizing a significant investment
reaching €400 mil for the clinical development of the above two molecules, aiming
at optimizing the therapeutic effect in the treatment of those specific diseases. It
should be noted at this point that the cost of these diseases for patients, their
families, the healthcare system and governments exceeds €50 billion annually.
These two new molecules will provide access to innovative treatments for qualified
patients who will participate in the clinical trials held in Greece and in Europe. It is
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estimated that if the results of the studies are positive, these treatments may become
available within an approximate five-year time horizon worldwide.
The agreement between the two companies was sealed today with the signing of a
cooperation agreement in the presence of His Excellency the Ambassador of the
People's Republic of China, Mr Du Qiwen, the Chairman of Fosun Pharma Mr. Chen
Qiyu, the CEO of Fochon Pharma, Dr. Weibo Wang, who is considered one of the
leading scientists worldwide and the Chief Executive Officer and Chairman of Σellas,
Dr. Angelos Stergiou. The event was attended by the Vice Minister for Development
& Competitiveness Mr Notis Mitarachis who hailed the cooperation.
His Excellency the Ambassador of People's Republic of China, Mr. Du Qiwen
underlined that the agreement has the absolute support of People's Republic of
China and significantly contributes to strengthening the bilateral relations
between China and Greece.
Dr. Angelos Stergiou, CEO and Chairman of Σellas Life Sciences stated that: "The
collaboration with Fochon Pharma and its parent company Fosun Pharma is a major
milestone for our company. Today we unite our forces, formalizing a cooperation
agreement with strong research, scientific and innovative character. This is an
agreement that places Greece on the world innovation map as a dynamic player in
the healthcare, scientific development and research industry development. Our
partnership with Fosun Pharma is expected to promote the exchange of specialized
scientific knowledge and innovative research activity between the two countries and
it is our honor that a pharmaceutical giant like Fosun Pharma entrusted us to
cooperate on this great project. Our highly experienced management team will work
diligently to potentially advance those molecules into the marketplace which is
indeed a blockbuster market that exceeds EUR 50 Billion”.
Furthermore, as mentioned by Mr Angelos Stergiou “The cooperation with Fochon
Pharma is just the beginning, the starting point and a solid basis for a dynamic future
while new business ventures will follow. We will not stop here. For Σellas the next goal
is to contribute so that clinical studies will emerge and become an important and
lucrative business for hospitals in our country, as happens in most hospitals abroad.”
"Fochon recognized the high specialization expertise of Sellas and chose it as a
strategic partner, a move which is a clear sign of confidence in the Greek
biopharmaceutical science and clinical trials, in Greek innovation and specialization,
and in the high potential of the health industry and business. Our collaboration with
Sellas will accelerate the global development of those novel molecules. We are
excited that Sellas shares our vision and dedication to commercialize those innovative
therapies for the treatment of type II diabetes and cancer”, noted in his speech the
CEO of Fochon, Dr. Weibo Wang.
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In recent years, Fosun Pharma is focusing on the pharmaceutical manufacturing, and
continuously increasing its investment on the R&D sector. It actively integrates the
global resources and displays its global R&D chain with its drug innovation platform.
The Chairman of Fosun Pharma, Mr. Chen Qiyu underlined: "In Fosun Pharma, we are
always seeking for new business opportunities. We see Sellas and Greece as a
potential and a momentum for further growth. To my knowledge, this agreement is
the first cooperation between China and Greece in pharmaceutical sector. We hope
this program can help strengthen the cooperation in pharmaceutical sector between
China and Greece. We will make effort to put forward this medicine to the market as
soon as possible in order to reduce the pain of the patients and save more lives.
For additional information:
V+O Communication, Maria Leontari, +30 211 7501227, ml@vando.gr
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