FOR RELEASE FEBRUARY 11, 2010 8:00 pm Eastern Time
3SBio and Ascentage Pharma Form Strategic Alliance to
Research, Develop and Commercialize Cancer Therapeutics
SHENYANG, CHINA - February 11, 2010 - 3SBio Inc. (NASDAQ: SSRX) ("3SBio" or "the Company"), a leading China-based
biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, and
Ascentage Pharma Group Corporation, Ltd. ("Ascentage Pharma") announced today that they have formed a strategic alliance
to research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or
apoptosis. The alliance will leverage Ascentage Pharma's expertise in structure-based small molecule design, lead optimization
and preclinical development with 3SBio's proven drug development and commercialization capabilities in China.
Under the terms of the agreement, 3SBio will make a US$3 million equity investment in Ascentage Pharma. The investment will
be used to fund Ascentage Pharma's R&D programs. 3SBio will have the exclusive right to develop and commercialize cancer
therapeutics in China that are discovered through Ascentage Pharma programs, while Ascentage Pharma will retain the rights to
the rest of the world and receive future milestone and royalty payments from any sales by 3SBio in China.
"The collaboration with Ascentage Pharma represents a key strategic initiative for 3SBio to develop our pipeline in the area of
cancer therapeutics," said Dr. Jing Lou, CEO of 3SBio. "This investment allows 3SBio to gain access to the best external science
and small molecule drug discovery platform in China."
"Apoptosis targeted small molecule has the potential to play a key role in the next generation of highly effective targeted cancer
drugs," said Dr. Dajun Yang, CEO of Ascentage Pharma. "We believe that this "win-win" collaboration will generate innovative
medicines that benefits patients worldwide."
About 3SBio Inc.
3SBio Inc. is a leading, fully int