HK-based drug R&D platform Xuanzhu Biopharmaceutical nets $116m

HK-based drug R&D platform Xuanzhu Biopharmaceutical nets $116m

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.

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