On March 18, 2021 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma"; stock code: 600196.SH; 02196.HK) reported that its subsidiary YaoPharma Co., Ltd. ("YaoPharma") had recently received the approval from the NMPA regarding the clinical trial for the YP01001 capsules (the "Investigational New Drug") for the treatment of advanced solid tumors (Press release, Fosun Pharma, MAR 18, 2021, View Source [SID1234626451]).

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The Investigational New Drug is an innovative small molecule chemical drug intended for the treatment of advanced solid tumors (including, among others, liver cancer and gastric cancer). YaoPharma plans to conduct Phase I clinical trial for the Investigational New Drug in China (excluding Hong Kong, Macao and Taiwan) recently after the conditions are available.

As of February 2021, Fosun Pharma has invested about RMB 33.66 million (unaudited) in the R&D of the Investigational New Drug at this stage.

Driven by innovation and R&D, Fosun Pharma continuously improves its drug R&D system based on the combination of generic and innovator drugs and builds international R&D platforms for small molecule innovator drugs, high-cost generic drugs, biologics and new technology-based therapies, etc.

In the future, the Company will continue to focus on clinical demands, increase its investment in R&D and improve innovation efficiency, so as to bring high-quality and affordable innovator drugs to patients.