Ally Bridge Group, a Hong Kong-based healthcare-focused private equity firm, has proposed a HK$2.34 billion (US$301 million) privatization deal to take Hong Kong-listed Shangdong Luoxin Pharmaceutical Group Stock Co., Ltd. private.
CITIC M&A Fund, Legend Capital Lead $280M Investment In Pharmaron
CITIC M&A Fund and Legend Capital have agreed to lead an investor consortium to invest US$280 million in Pharmaron, a contract research organization (CRO) for the pharmaceutical industry, according to an announcement.
Hillhouse, CITIC PE-Backed BeiGene Files For US IPO
Beijing-based oncology research and development firm BeiGene (Beijing) Co., Ltd., backed by Hillhouse Capital and CITIC Private Equity, has filed for an initial public offering in the U.S., according to a securities filing. The prospectus did not reveal any financial details of the offering yet, but it is disclosed that Hilhouse Capital owns 9.9% and CITIC Private Equity holds 6.4% of BeiGene. It’s unclear if the investors are selling shares in the planned float. In May, BeiGene completed a round …
ZY Investments To Jointly Launch $473M China Healthcare M&A Fund
Chinese healthcare-focused private equity fund ZY Investments has signed an agreement with Shenzhen-listed Sundiro Holding Co., Ltd and the company’s chairman to jointly establish a healthcare investment fund.
C-Bridge Capital Leads $35M New Round In Ascletis
Chinese pharmaceutical start-up Ascletis has completed RMB220 million (US$35 million) new round of financing led by C-Bridge Capital, according to a company announcement.
Shanghai Pharma Seeks $469M For Healthcare Venture Fund
Chinese drug maker Shanghai Pharmaceuticals Holding Co., Ltd. plans to launch a venture capital investment fund to back promising healthcare start-ups, with a fundraising target of RMB3 billion (US$469 million), according to a securities filing. The fund will first seek to raise RMB1 billion (US$160 million), while Shanghai Pharma says it will commit RMB250 million.
CITIC PE-Backed 3SBio Acquires Wansheng Pharma
Shenyang, Liaoning province-based Chinese bio-pharmaceutical firm 3SBio Inc., backed by CITIC Private Equity Funds Management Co. (CITIC PE), has acquired small molecule manufacturing firm Zhejiang Wansheng Pharmaceutical Co., Ltd. for RMB528 million (US$85 million), according to a company announcement. The company just completed an initial public offering in Hong Kong, raising net proceeds of HK$4.17 billion (US$538 million). Around a quarter of the share sale was existing investors selling their shares.
WuXi PharmaTech Unit To Raise $80M In New Funding
Chinese contract research and development services provider for the pharmaceutical industry WuXi PharmaTech (Cayman) Inc. says its small-molecule drugs manufacturing subsidiary is in the process to raise RMB499 (US$80 million) from 33 unnamed Chinese institutional investors, according to a company announcement. The unit, SynTheAll Pharmaceutical Co. Ltd., has agreed to issue 7.16 million new common shares, or around 6% of its current total shares outstanding, to the investor group in a private placement deal.
CITIC PE-Backed 3SBio Seeks $712M Hong Kong IPO
Shenyang, Liaoning province-based Chinese bio-pharmaceutical firm 3SBio Inc., backed by CITIC Private Equity Funds Management Co. (CITIC PE), is seeking to raise as much as US$712 million in a Hong Kong initial public offering, according to a securities filing. The company is offering 606.1 million shares at HK$8.30 to HK$9.10 apiece, with a valuation of roughly US$2.85 billion.
Fosun, Hopu Among Investors Acquiring Biotech Firm Ambrx
A Chinese investor consortium has agreed to acquire San Diego, California-based biotechnology firm Ambrx Inc., according to a company announcement. The investors include entities affiliated with Shanghai Fosun Pharmaceutical Group, Chinese private equity firm Hopu Investments, a healthcare investment fund under China Everbright Limited, and WuXi PharmaTech, a Chinese research and development service provider for pharmaceutical companies.
Hony Capital Offloads CSPC Pharma Shares For $1.26B
Beijing-based Chinese private equity firm Hony Capital has offloaded 1.37 billion shares of Chinese generic drugs maker CSPC Pharmaceutical Group Limited at HK$7.15 per share, according to a securities filing. The selling price represents a 4.4% discount to the company’s last closing price of HK$7.48 on Thursday. The transaction generated total proceeds of approximately HK$9.796 billion (US$1.26 billion) for the investment firm.
Qiming, TF Capital Lead $10M Series A In CANbridge Life Sciences
Beijing-based bio-pharmaceutical company CANbridge Life Sciences Ltd. has completed US$10 million series A financing from Qiming Venture Partners and TF Capital, a venture fund started by Chinese contract research organization, Hangzhou Tigermed Consulting Co., according to a company announcement. Founded in 2012, CANbridge has been mostly funded by angel investment from U.S. and Chinese life science executives. The company says it will use the proceeds for the continued expansion of its business development and operations.
BVCF Leads Series A Round For Shanghai Drug Maker CARsgen
Shanghai-based immunotherapy firm CARsgen says it has completed an undisclosed amount of series A financing led by Shanghai-based BVCF, a growth capital-focused private equity fund specializing in the life sciences industry, according to a company announcement. CARsgen focuses on the development of new therapeutics for liver, lung, stomach and brain cancers. In collaboration with Shanghai Cancer Institute and Shanghai Renji Hospital, the company plans to initiate clinical studies for its therapeutic KJgpc3-001, which takes T-cells extracted from the patient, genetically …
Blackstone To Acquire Stake In Xinrong Best Medical Instrument
U.S. private equity giant Blackstone Group L.P. has agreed to acquire a stake in SuZhou city-based Chinese orthopedic medical instruments maker Xinrong Best Medical Instrument Co. Ltd., according to a company statement. Deal terms were not disclosed, but media reports have put the investment at over US$100 million.
Baird Capital Exits Frontage Laboratories Through Trade Sale
U.S. private equity firm Baird Capital has sold its interests in its portfolio company Frontage Laboratories, Inc. to Hangzhou Tigermed Consulting Co., Ltd., a Shenzhen-listed pharmaceutical Contract Research Organization (CRO), according to an announcement made by Baird.
Cathay Capital Invest $24.5M In Kunming Shenghuo Pharma
Sino-French private equity firm Cathay Capital Private Equity says it has invested RMB150 million (US$24.5 million) in traditional Chinese medicine firm Kunming Shenghuo Pharmaceutical Group Co., Ltd., according to a company announcement. The deal was closed at the end of June. The investment is from Cathay Capital II and the Sino-French Fund for small and medium enterprises (SMEs)