Technology Innovation

Technology Innovation

Fosun puts a strong emphasis on driving business development with technology and innovation. Since the establishment, Fosun has been building a multi-dimensional technology innovation system through in-house R&D efforts, incubator programs, angel investments, venture capital investments and obtaining patent licenses, etc. We attract global tech talents who are interested in improving people’s life through technology innovation to join Fosun’s ecosystem where we empower each other and improve together.

The Health ecosystem is the focus of Fosun’s technology innovation. Over the past two decades, Fosun has continuously increased its investment in the pharmaceutical industry by strengthening its R&D and the accumulation of its independent technology innovations.

Nine years ago, Fosun Pharma set up a laboratory in Silicon Valley to create a global research and development network. The research and development network has achieved initial results. For example, Shanghai Henlius has obtained investigational new drug (“IND”) approvals for 16 indications of nine products in the Chinese mainland, leading the research and development of monoclonal antibody drugs in China. Fosun Pharma has also achieved breakthroughs in various technologies, including the applications for two new type I chemical drugs and obtained a clinical approval from China Food and Drug Administration, and the application of a new drug to the Food and Drug Administration in the United States. Founded in 2017, the Proxima team is a proprietary project that makes use of artificial intelligence technology to assist in tuberculosis film reading, which greatly enhances the accuracy of lung cancer diagnosis and was awarded first place in the List of “LUNA16”.

Fosun attaches great importance to the cooperation with the top research and development companies in the world, and has already made many achievements. For example, Fosun Pharma and US-based Kite Pharma Inc. have set up a joint venture, Fosun Kite Biotechnology Co., Ltd. whose CAR-T cell immunotherapy aims to provide a cure for cancer; Fosun Pharma and Intuitive Surgical SARL, owner of the technology and products of Da Vinci surgical robotic system, have established Intuitive Surgical-Fosun Medical Technology (Shanghai) Co., Ltd. to accelerate the development and adoption of advanced medical technology in China.

Fintech is also an area of technological innovation in which Fosun is paying more attention. The NAGA Group AG in Germany, invested by Fosun, has become the first listed Fintech company on the German stock. In 2017, Fosun also invested in another Fintech company, namely Bond I.T. Ltd., aiming to develop a more extensive Chinese market.

In February 2018, Fosun announced the establishment of its Technology Innovation Center to fully drive the digital transformation of Fosun as a company based on technology innovation. The Center will coordinate project investment, incubation programs, research & development and collaborative introduction of innovative products in the technology innovation area within the Fosun ecosystem. In the next three years, Fosun will invest no less than RMB20 billion in technology innovation and research & development, continue to ramp up investment in innovative technologies in health, happiness and wealth segments, and increase its investment in the customer-end, 2Link technologies and innovative technologies at the maker-end. Fosun will focus on family unit scenarios, leverage new technologies in the internet of things (IoT), artificial intelligence (AI), cloud computing, big data, blockchain, robotics, new materials and new energy, etc., and incubate, cultivate and invest in unicorns, in an effort to enhance Fosun’s product power and competitiveness in the C2M strategy.

In addition to the global innovation headquarters in Shanghai, Fosun will also set up other regional offices in the Silicon Valley, and plans to open innovation centers or research institutes in Shenzhen and Beijing of China as well as in Israel, Germany, United Kingdom, India and Southeast Asia, in a bid to become a pioneer in the global technology race.