Walvax raises $72.8 million in private placement

Vaccine play Walvax Biotechnology Co. Ltd. (SZSE:300142) raised RMB 450 million ($72.8 million) through the sale of 15.4 million shares at RMB29.27 in a private placement on Aug. 1. Walvax markets several vaccines for meningococcal disease and influenza in China, including a meningococcal polysaccharide conjugate vaccine against Neisseria meningitides serogroups A, C, Y and W135, and a Haemophilus influenza type b ( Hib) conjugate vaccine. The company said RMB 315 million ($50.9 million) of the financing will be used to repay existing loans. ...