An investment cooperation agreement to build a fullerenes-based innovative drug research, development and clinical application production base in Junngar Banner, Ordos city, was signed on Nov 18.

The project, signed by the government of Juungar Banner, the Juungar Economic Development Zone, Beijing Fullcan Biotech Co and Inner Mongolia Tehong Coal and Power Group, will serve as the centerpiece of a new health industry park and further accelerate the growth of Juungar Banner's science and technology services sector.

Following the principle of "complementary strengths and mutual benefits", the project will leverage Tehong's industrial foundation in carbon-based materials and healthcare, together with Fullcan's technological advantages in industrialized preparation of fullerene nanomaterials.

With a planned investment of 10 billion yuan ($1.41 billion), the partners will advance the development of the innovative fullerene drug F10 capsules, which have already obtained clinical trial approval from both China's National Medical Products Administration and the US Food and Drug Administration.

Beijing Fullcan Biotech Co is a high-tech enterprise focused on the research and application of fullerenes in innovative pharmaceuticals, cosmetics, and photocatalytic materials.

As a commercialization base for fullerene research achievements from the Chinese Academy of Sciences' nanotechnology laboratory, the company specializes in the preparation and purification of fullerene materials for use in medicine and cosmetics. Its fullerenes reach a purity level of over 99.9 percent, meeting pharmaceutical standards.