BioCentury
ARTICLE | Company News

Sichuan Mingxing Pharmaceutical, Tianyin Pharmaceutical deal

November 9, 2009 8:00 AM UTC

The companies formed a JV called Sichuan Jiangchuan Pharmaceutical Co. Ltd. to develop and commercialize active pharmaceutical ingredients for macrolide antibiotics. Tianyin raised $5 million in an equity financing to fund the $4.5 million land purchase for the JV in Sichuan, China, and will own 77% of the JV. Sichuan will own the remaining 23% of the JV, which is expected to begin operations in July 2010. ...