Sequoia, HBM Bioventures Invest In Nuokang Bio-Pharmaceutical
This article was originally published in PharmAsia News
Sequoia Capital China and HBM Bioventures will be injecting $17 million into Nuokang Bio-Pharmaceutical, a subsidiary of Nuokang Medicine, to secure 20 percent of the drug manufacturer's shares. Both venture capitalists will likely increase their investment if the biologics firm intends to expand by acquisitions in the future. Besides financials, the two will also bring their experience in resource and capital market management to help the Chinese company develop a global strategy. Nuokang Bio-Pharmaceutical, based in Shenyang, Liaoning province, is launching two new drugs this year and will use the funds for market development, distribution network establishment, and other projects. Its new international-standard production base is currently under construction. (Click here for more - Chinese Language)
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