Fosun Pharma USA and Treehill Partners (Treehill) announce the formation of a jointly operating vehicle for investment in clinical stage assets, further solidifying the relationship between the two companies.

The newly established business will be looking for high-quality, mid- to late-stage assets, clinically focused on the United States market. There will also be a high degree of focus on high quality non-U.S. clinical stage biopharma assets, seeking to access the U.S. market.

The investment team's strategy will focus on opportunities where a combination of capital, senior leadership involvement and product development acumen will present the key to unlocking value in a short or mid timeframe.

"Over the recent quarters we have observed a tendency of stand-still in the industry resulting from limited capital being available for biotech product development. This has left a large number of programs unable to advance and ultimately reach patients, not only because clinical activities could not take place due to insufficient funding, but also because companies were not able to attract the expertise necessary to move forward successfully," Rong Yang, CEO, Fosun Pharma USA, said. "We are combining forces with Treehill Partners given their proven track record with end-to-end capabilities bridging across corporate and product development."

The business, jointly led by Rong Yang and Ali Pashazadeh (CEO and co-founder, Treehill Partners), will be seeking to make its first investments during 2024. The full spectrum of activities along the investment life cycle — from strategy creation, target identification and investment, over product and business development, to value realization and strategic exit options, will be jointly managed.

"This strategic step is the start of a new chapter in the growth journey of Fosun Pharma USA. Recently, we have built a detailed understanding of the landscape of opportunities and pathways for value creation in this market, which we are looking to pursue actively in an innovative structure," Yang added. "We look forward to working with the CEOs and leadership teams of our future portfolio companies on a mission to commercialize innovative products that address significant needs of patients worldwide."

"We have selected Fosun as a preeminent global partner who shares our work ethos and vision for novel pathways of biopharma product development, with whom we have established a trustful relationship over many years," Pashazadeh said.