Hillhouse Capital pays RMB2.3b to up stake in Chinese pharma Asymchem

Hillhouse Capital closes another deal in boosting the innovation of China’s pharmaceutical industry.
On the evening of February 16, Asymchem (002821) announced the termination of the non-public offering of shares in 2019, and disclosed the 2020 non-public offering of shares. The company intends to issue non-public shares of no more than 18.7 million shares at 123.56 apiece. The total amount will

Hillhouse Capital closes another deal in boosting the innovation of China’s pharmaceutical industry.

On the evening of February 16, Asymchem (002821) announced the termination of the non-public offering of shares in 2019, and disclosed the 2020 non-public offering of shares. The company intends to issue non-public shares of no more than 18.7 million shares at 123.56 apiece. The total amount will be no more than 2.311 billion yuan.

Hillhouse Capital intends to subscribe all the newly-issued shares in cash through the subsidiary Hillhouse Capital Management Co Ltd – HCM China Fund. Hillhouse Capital will have more than 5% stake in Asymchem.

Asymchem is a global industry-leading CDMO solution provider. It is mainly committed to the technological innovation and commercialization of global pharmaceutical processes, and provides large and medium-sized pharmaceutical companies and biotechnology companies at home and abroad with one-stop CMC service for drug development and production.

The company has formed a comprehensive service system including innovative drug CMC service, MAH business, formulation R&D and production, clinical testing services, biological sample testing, and drug registration and declaration.

The comprehensive and in-depth cooperation between the two parties is expected to fully mobilize the high-quality industrial resources, and support the Chinese pharmaceutical manufacturers including Asymchem to compete on the world stage.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/hillhouse-capital-pays-rmb2-3b-to-up-stake-in-chinese-pharma-asymchem/.

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