General Atlantic invests $55m in Indonesian life sciences company KGBio

General Atlantic invests $55m in Indonesian life sciences company KGBio

Photo: Pixabay

Global private equity firm General Atlantic is investing $55 million in the first round to acquire a minority stake in Indonesia-based Kalbe Genexine Biologics (KGBio), according to a press statement.

The target company is the life sciences arm of the listed pharmaceutical company PT Kalbe Farma Tbk, which holds a 60% stake in the unit, according to a Q3 2020 financial report.

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