By Fineline Cube 
Hunan FangSheng Pharmaceutical Co., Ltd. (SHA: 603998) announced today that it has reached an agreement to acquire the patent rights for the Class 1 innovative chemical drug project, IMM-H024, which includes both the active pharmaceutical ingredient and formulation. The acquisition is valued at a total of RMB 80 million and will be completed in installments based on agreed-upon milestones.
IMM-H024: A Promising JAK Inhibitor
IMM-H024 is a novel JAK inhibitor under development, primarily targeting autoimmune diseases such as rheumatoid arthritis, systemic lupus erythematosus, and multiple sclerosis. This acquisition underscores FangSheng Pharmaceutical’s commitment to expanding its pipeline of innovative therapies for unmet medical needs.
Strategic Implications of the Acquisition
The acquisition of IMM-H024 aligns with Hunan FangSheng Pharmaceutical’s strategy to strengthen its position in the pharmaceutical industry by investing in cutting-edge research and development. The addition of this JAK inhibitor project enhances the company’s portfolio of innovative chemical drugs, marking a significant step forward in its efforts to deliver advanced treatments for patients worldwide.-Fineline Info & Tech