The impact of the COVID pandemic is an inevitable increase in attention to the medical industry innovation. Moreover, according to the “14th Five-Year Pharmaceutical Industry Development Plan” issued by the Chinese government, the development of biomedicine and the improvement of the supply guarantee system for medical devices are included in the subsequent development goals.
Aiming to enhance its R&D capability in innovative drugs and medical devices, as well as advocating the Chinese government’s 14th Five-Year Plan, Shineco, Inc. (NASDAQ: SISI) announced that on February 16, 2022, the company entered into a strategic cooperation framework agreement (the “Agreement”) with Beijing Jinshengyun Pharmaceutical Technology Co., Ltd. (“JSY”), a Beijing-based outsourcing service company engaged in comprehensive drug and medical device development, for in-depth cooperation in the research and development (“R&D”) of innovative medicines and medical devices. Both parties plan to promote innovative drugs and medical devices and support the establishment of Shineco pharmaceutical R&D and innovation center.
JSY is a professional outsourcing service company engaged in comprehensive drugs and medical devices development. The company is dedicated to providing drug and medical device clinical trials, R&D, project management, and project risk assessment for Chinese and international pharmaceutical companies. JSY has achieved the modern management of clinical trials and provided qualified solutions for clinical trials through digital technology and system. It is said that JSY’s team has expertise on fulfilling the requirements of International Conference on Harmonisation-Good Clinical Practice (ICH-GCP), China’s National Medical Products Administration-Good Clinical Practice (NMPA-GCP) and domestic and international regulatory, and rich experience in clinical research and management.
“We are very pleased to enter into the strategic cooperation with Shineco to jointly develop the innovative drugs and medical devices. With the innovation of technologies, JSY has continuously engaged in the development and clinical trials of new drugs and participated in the evaluation of new drugs,” said Ms. Qiulan Yang, the CEO of JSY, “We are experienced in providing clinical research solutions for innovative pharmaceutical companies. In the future, we expect to cooperate comprehensively with Shineco to jointly promote the high-quality development of the pharmaceutical industry with the help of its valuable clinical centers and patients.”
Ms. Jennifer Zhan, CEO of Shineco, commented, “Our multi-level and comprehensive innovative cooperation with JSY is based on the business advantages and development goals of both parties. JSY is a highly qualified partner with expertise in the R&D of drug and medical devices, clinical trial management and coordination, clinical CRO management and expert resources. With the JSY’s expertise, Shineco expects to enhance its R&D capability in innovative drugs and medical devices and plans to establish a pharmaceutical R&D and innovation center to accelerate the development of innovative drugs and medical devices to satisfy additional clinical needs in China.”
As a strategic industry related to the people’s livelihood and economic development, the pharmaceutical industry is a significant foundation for constructing the “Healthy China 2030” project. Inspired by the “14th Five-Year Pharmaceutical Industry Development Plan”, both Shineco and JSY are poised to seize these opportunities to increase market share in the innovative drug and medical device industry by relying on their business advantages and their synergy cooperation.
