We have established three R&D centers in Nanjing (the Jiangsu Province), Shanghai and Boston (the United States), respectively. With the approval of the Ministry of Science and Technology, we have also established a national key laboratory of translational medicine and innovative pharmaceuticals. For the years ended December 31, 2017, 2018 and 2019, our research and development costs accounted for 5.5%, 9.9% and 14.2%.
We were approved by the Ministry of Science and Technology of the PRC in October 2015 to establish the only national key laboratory of translational medicine and innovative pharmaceuticals in the PRC pharmaceutical industry. This laboratory focuses on the translational medicine and precision medicine-based research and development of innovative pharmaceuticals for the treatment of oncology, central nervous system diseases, autoimmune diseases and infectious diseases.