3SBio to acquire Therapure's CDMO business

A newly formed JV between biosimilars company 3SBio Inc. (HKSE:1530) and CPE Funds, the private equity arm of CITIC, will acquire the contract development and manufacturing business of Therapure Biopharma Inc. (Mississauga, Ontario) along with rights to plasma products and technology in China for $290 million. 3SBio hopes the acquisition will position the company to expand its biopharmaceutical business into North America, including opportunities for licensing innovative products and exploring strategic collaborations.

The deal comes as 3SBio transitions from development of biosimilars to innovation. The company is developing antibodies and biologics in nephrology, oncology and autoimmune indications...