Xuanzhu Biopharmaceutical, an innovative drug research and development subsidiary of Hong Kong-listed Sihuan Pharmaceutical Holdings Group, has completed an 800-million-yuan ($116 million) Series A round of equity financing led by Chinese state-owned investment firm State Development and Investment Corporation (SDIC).
Hong Kong-based Xuanzhu Biopharmaceutical sold an 18.6 per cent equity interest in the deal, according to a statement on Monday. The company and SDIC plan to collaborate on innovative drug introduction and development following the transactions.
