Fosun Pharmaceutical to Invest 414 Million Yuan in Xingyao Kunze's Series B Funding Round

MT Newswires Live

05/27

Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196), through subsidiary Fosun Pharma Industry, plans to invest 414.4 million yuan to participate in the Series B financing of Xingyao Kunze, according to a Wednesday filing on the Shanghai bourse.

Xingyao Kunze develops drugs for liver diseases. Its pipeline products are HT-101 and HT-102, and the combination of these drugs.

After the completion of the funding round, Fosun Pharma Industry is expected to own 20.9% of Xingyao Kunze.

The pharmaceutical company's Hong Kong shares fell by less than 2% during the afternoon trade.

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