Chinese biotech firm WuXi AppTec to invest over $30m in CANbridge

Photo: WuXi AppTec.

WuXi AppTec is planning to invest over $30 million in Beijing-based biopharmaceutical firm CANbridge Pharmaceuticals, as the mainland leading biotech firm ramps up efforts to up stakes in China’s orphan disease treatment market.

WuXi PharmaTech Healthcare Fund I, an investment platform of WuXi AppTec, plans to purchase more than 1.69 million newly-issued preferred shares in CANbridge for over $20 million, and to spend another $10 million for warrants to subscribe more stake in the biopharma startup in the future, said WuXi AppTec in a filing with the Shanghai Stock Exchange on Tuesday (February 18).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter