By Fineline Cube 
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHA: 600196, HKG: 2196) announced a strategic collaboration with Clavis Bio, Inc. to jointly develop innovative therapies based on frontier targets nominated by Clavis Bio. The five‑year agreement, backed by Aditum Bio, enables Fosun to receive up to USD 362.5 million per project plus royalties and equity, while retaining exclusive rights in Greater China.
Partnership Structure
| Component | Details |
|---|---|
| Term | 5‑year collaboration (2025‑2030) |
| Target Selection | Up to 4 targets per year for preclinical development |
| Fosun’s Role | Joint preclinical development; retains Greater China rights |
| Clavis Bio’s Option | Exclusive global rights (ex‑Greater China) for each project |
| Financial Terms | Up to USD 362.5 M per project (exercise fees, milestones, royalties) plus minority equity stake |
| Parent Entity | Clavis Bio is a wholly‑owned subsidiary established by Aditum Bio fund |
Territory & Rights Allocation
| Territory | Rights Holder | Scope |
|---|---|---|
| Mainland China, Hong Kong, Macau | Fosun Pharma | Exclusive development, manufacturing, commercialization |
| Global (ex‑Greater China) | Clavis Bio (if option exercised) | Exclusive development, manufacturing, commercialization |
| Equity Component | Fosun receives minority stake in new Aditum project company | Zero‑cost equity for each exercised project |
Strategic Implications
- For Fosun: $362.5 million potential per project monetizes early‑stage R&D while retaining China market exclusivity; diversifies pipeline with frontier targets; aligns with innovation‑driven growth strategy.
- For Clavis/Aditum: Access to Fosun’s R&D capabilities and China market insights; flexible option structure de‑risks global development; Aditum’s fund model enables efficient capital allocation across multiple projects.
- For Market: Demonstrates cross‑border biotech collaboration model; frontier target focus positions both parties in next‑generation therapeutics (e.g., novel modalities, undruggable targets); financial structure sets template for future China‑global partnerships.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding project advancement, milestone achievements, and market potential. Actual results may differ due to scientific risks, competitive dynamics, or regulatory changes.-Fineline Info & Tech