The government of Juungar Banner, together with the banner's economic development zone, Beijing Fullcan Biotechnology Co, and Inner Mongolia Tehong Coal & Power Group, signed an investment agreement on Nov 18 to jointly develop a fullerene-based innovative drug R&D and clinical application base.

The project, to be built with a total investment of 10 billion yuan ($1.4 billion), will focus on the development of F10 capsule – a fullerene-derived drug that has already received clinical trial approval from both China's National Medical Products Administration and the U.S. Food and Drug Administration.

The cooperation leverages Tehong's strong industrial foundation in carbon materials and healthcare, along with Fullcan's technological expertise in the industrial preparation of fullerene nanomaterials, aiming to establish a health industrial park to strengthen technology promotion and application services in Juungar Banner.

Beijing Fullcan Biotechnology Co specializes in the research and application of fullerene materials in pharmaceuticals, cosmetics, and photocatalytic materials. As a commercialization base for fullerene-related scientific achievements of the Chinese Academy of Sciences, the company focuses on the preparation and purification of fullerene, which reaches a purity of over 99.9 percent – meeting pharmaceutical-grade standards.