Fosun Pharma (SHA: 600196; HK: 02196) was granted US FDA approval to begin clinical tests of an investigational COVID-19 antibody treatment, HLX70. The trial will be conducted by Hengenix Biotech, the California arm of Fosun's biologics subsidiary, Henlius (HK: 2696). Hengenix co-developed the molecule with Sanyou Biopharma, a CRO, and Shanghai ZJ Bio-Tech. It is aimed at treating the acute respiratory distress syndrome and multiple organ failure that is associated with COVID-19.

The Phase I trial will evaluate the safety and pharmacokinetics of HLX70 in healthy volunteers. To date, Fosun has invested $2 million in the candidate, according to the company.

Henlius says it has three campuses working on developing biologics -- Shanghai, Taipei and the Hengenix site in Milpitas, California.

In March of this year, Fosun announced a $135 million agreement to develop and commercialize an mRNA COVID-19 vaccine in China that was developed by BioNTech (NSDQ: BNTX) of Germany. Pfizer (NYSE: PFE) acquired US rights to the same vaccine. Fosun paid $50 million upfront  and will make up to $85 million in milestone payments for the China rights. 

See our other articles on Fosun Pharma and Henlius.

Disclosure: none.