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Hengrui Therapeutics raises $100M

June 24, 2016 12:19 AM UTC

Newco Hengrui Therapeutics Inc. (Princeton, N.J.) said it received a $100 million investment from HR Bio Holdings Ltd., a JV between Jiangsu Hengrui Medicine Co. Ltd. (Shanghai:600276) and an undisclosed investment firm.

Hengrui Therapeutics CEO Adam Zong told BioCentury that while the U.S.-based newco obtained rights to its three assets from Jiangsu Hengrui, it will operate independently from the Chinese company, and may grow its own pipeline through internal R&D or new partnerships. He said Hengrui Therapeutics will conduct trials in the U.S. and EU. ...