China's Asymchem Biotechnology to raise $392m from Hillhouse, others

China's Asymchem Biotechnology to raise $392m from Hillhouse, others

Photo by Raimond Klavins on Unsplash

Shanghai Asymchem Biotechnology Development, a wholly-owned subsidiary of China-based drug developer Asymchem Laboratories (Tianjin), has entered into an agreement to raise up to 2.5 billion yuan ($392.2 million) from investors including private equity (PE) firm Hillhouse Capital Group.

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