Sequoia, HBM Bioventures Invest In Nuokang Bio-Pharmaceutical
This article was originally published in PharmAsia News
Executive SummarySequoia 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)
You may also be interested in...
An experienced hand at M&A, Ajay Piramal has done it again – this time selling Decision Resources Group to Clarivate Analytics for $950m. Apart from $900m in cash, Piramal Enterprises will get a stake in Clarivate while the latter expects the acquisition to be earnings-accretive in 2020.
San Francisco-based digital health start-up Steady Health has launched the first "virtual" full-service diabetes clinic for patients in California. See what Henrik Berggren, CEO and founder of Steady Health, said about it here.
The first phase of a major trade agreement just signed by the US and China obliges the latter to implement a system linking pharma patent enforcement to marketing authorization procedures as well as to offer patent-term extensions.