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3SBio Inc. Announces Unaudited Second Quarter and First Half 2011 Results
Date:8/15/2011

kind available in China. The 36,000 IU dosage is comparable to the standardized dose used globally for chemotherapy-induced anemia, allowing for less frequent administration than lower dosage forms, which in turn is expected to provide greater convenience for both patients and caregivers.
  • We formed an investment partnership ("3SBio Ventures" or the "Fund") with Taizhou Oriental CMC Limited ("Taizhou Oriental"), the investment arm of Taizhou China Medical City Company ("CMC"). CMC is a Jiangsu province-based national level high-tech industrial park dedicated to life science innovation and is supported directly by the Ministry of Health, Ministry of Science and Technology and the State Food and Drug Administration. The investment partnership will be managed by Taizhou Huan Sheng Investment Management Company Limited ("Huan Sheng"), a wholly-owned subsidiary of 3SBio. Taizhou Oriental and 3SBio have committed RMB50 million and RMB200 million respectively to the Fund. The initial contribution is 20% of the total commitment with the balance to be drawn down as required. 3SBio Ventures will seek investments in the life science sector that support 3SBio's strategic interests. The Fund will have an investment horizon of 8 years with an option to extend.
  • Dr. David Chen has assumed new responsibilities as the managing partner of 3SBio Ventures and has resigned from his position as chief operating officer of 3SBio Inc. Dr. Chen will focus his efforts on seeking strategic investment opportunities for 3SBio Ventures. Dr. Chen's current responsibilities will be allocated among the senior management team while the Company continues to seek opportunities to strengthen its executive team.
  • Dr. Yingfei Wei has resigned from her position as 3SBio's chief scientific officer but will remain engaged in a consulting role to both 3SBio and 3SBio Ventures. Dr. Dongmei Su, chief technology officer of the company, will take on the role of vice president, R&D and wil
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