Drug company Sichuan Kelun-Biotech Biopharmaceutical (HKG:6990) completed the placing of 5,918,000 shares to at least six investors at HK$331.8 apiece to raise net proceeds of a little over HK$1.94 billion, a Thursday Hong Kong bourse filing said.

Proceeds will be used for the R&D, trials, registration, manufacturing, and commercialization of products; external collaborations; product pipeline portfolio expansion; and replenishment of working capital among other uses.