U.S. Venture Fund Invests Millions In Chinese Biotech
This article was originally published in PharmAsia News
A U.S. venture-capital company says it has invested $15 million in the Chinese biotech, Jinsite Science and Technology, according to a source. Kleiner, Perkins Caufield & Byers signed the deal as the first of more than half a dozen investments the firm expects to make in China this year. Jinsite is a subsidiary of GenScript, a U.S. company offering outsourcing services for biological and pharmaceutical research. KPCB began investing in China two years ago and now is one of the largest venture-capital funds in the United States. (Click here for more
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