Tianjin Development Unit to Invest 174 Million Yuan in Biotech Fund

MT Newswires Live

08/22

Tianjin Development (HKG:0882) said its indirect non-wholly owned subsidiary Lisheng Pharmaceutical (SHE:002393) plans to commit 173.8 million yuan to a new private equity fund focused on health and biotechnology, according to a Friday Hong Kong bourse filing.

The proposed fund will have a total capital commitment of 500 million yuan, with Lisheng contributing 34.8% as a limited partner.

Other participants include CCB Investment, TEDA Private Equity, TEDA International, Guoxin Fund, and CCB Strategic Fund.

The five-year fund will target opportunities across China's health and biotech sectors, according to the filing.

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