Fosun Pharma (SHA: 600196) has declared adjustments to the investment amounts for some of its non-public offering projects in 2022, including new sub-investment projects. The company plans to reallocate the uninvested funds originally intended for the “API and Preparation Intensive Comprehensive Base” project, amounting to RMB 193.14 million, to another fundraising project titled “Preparation for the Clinical, Licensing and Product Launch of Innovative Drugs.” Additionally, Fosun Pharma will optimize the internal structure of the “Preparation for Clinical, Licensing and Product Launch of Innovative Drugs” project and introduce new sub-fundraising projects.
Internal Structure Optimization and New Project Additions
The internal structure optimization and addition of new projects include the following changes:
- A reduction of the investment in the sub-project “Balixafortide” by RMB 257.73 million.
- A decrease in the investment for the “novel coronavirus mRNA vaccine” by RMB 72.32 million.
- An increase in the funds raised by the sub-project “FS-1502” by RMB 194.07 million.
- The introduction of a new sub-project “FCN-338” with an investment of RMB 186.21 million.
- The addition of another new sub-project “SAF-189” with an investment of RMB 142.9 million.
Fundraising and Investment Details
In July 2022, Fosun Pharma issued 106,756,666 domestically listed ordinary shares at an issue price of RMB 42.00 per share, raising a total of RMB 4.5 billion. The funds are designated for preparations related to the clinical development, licensing, and product listing of innovative drugs, a comprehensive base for API and preparation intensification, and supplementary working capital. The balance after these adjustments stands at RMB 1.1 billion. Post-adjustment, the FS-1502 project’s investment increased from 57.05 million RMB to 2.5 billion RMB, while the Balixafortide project’s investment decreased from 287.82 million RMB to 30.09 million RMB. The novel coronavirus mRNA vaccine’s investment was also reduced from 324.57 million RMB to 252.25 million RMB. New projects FCN-338 and SAF-189 were added with investments of 186.21 million RMB and 142.9 million RMB, respectively. The characteristic API base project was reduced from 729.21 million RMB to 556.07 million RMB, and the comprehensive base for preparation intensification project was decreased from 620.09 million RMB to 600.09 million RMB.-Fineline Info & Tech
