Raffles Pharma and Xuancheng Menova Pharmaceuticals reached a cooperation

On April 8, 2020, Guangdong Raffles Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Raffles Pharmaceuticals") and Ningbo Minova Pharmaceutical Co., Ltd. (hereinafter referred to as "Minova") are major holding subsidiaries of Xuancheng Minova Pharmaceutical Co., Ltd. (hereinafter referred to as "Xuancheng Minova") signed a strategic cooperation agreement in Xuanzhou District, Xuancheng City, Anhui Province. Both parties reached in-depth strategic cooperation on the CDMO business in the field of small molecule innovative medicine.

The two parties agreed that Raffles Pharma will be responsible for undertaking early route exploration and process development of new drug intermediates for customers, and Xuancheng Minova will be responsible for undertaking the scale-up production of related new drug intermediates developed by Raffles Pharma. The first cooperation project between the two parties was to provide R & D and production services for a US-listed NASDAQ-listed biotechnology company.

At the signing ceremony, Dr. Andrew Phillis, Vice President, Co-Founder and Chief Commercial Officer of Raffles Pharma, and Mr. Shi Jianxiang, Director and Vice President of Minova, delivered speeches respectively.

Dr. Andrew Phillis, Vice President of Raffles Pharmaceutical, mentioned in his speech that Raffles Pharmaceutical is a wholly-owned subsidiary of Shenzhen Huaxian Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Shenzhen Huaxian Pharmaceutical"). An important holding subsidiary of Novartis, and Ruihe Equity Investment Fund invested by Minova is also an investor in Shenzhen Huaxian Pharmaceutical. All along, the two sides have jointly explored a closer and more efficient mode of cooperation. The signing of this strategic cooperation agreement is the starting point for the in-depth strategic cooperation between the two parties.

Shi Jianxiang, director and vice president of Minova, mentioned in his speech that Xuancheng Minova has first-class production equipment and a professional team. The company has established customer reputation, technical capabilities, production capabilities, quality control capabilities and EHS management capabilities. Such comprehensive competitiveness will provide a strong guarantee for the strategic cooperation between the two sides. Xuancheng Minova is full of confidence and hopes to use this as a starting point to continuously demonstrate the comprehensive competitiveness of Minova in serving customers. Through cooperation with Raffles Pharma, more high-value-added products will be introduced, and we will continue to participate deeply in the development and production of new products of innovative drugs and generic drugs with more customers, as well as provide commercial production services for these products after they are marketed.