BioCentury
ARTICLE | Company News

Tasly Biopharmaceuticals gains control of JV ahead of possible IPO

July 10, 2018 10:50 PM UTC

Tasly Biopharmaceuticals Co. Ltd. (Shanghai, China) gained full control of its JV with Transgene S.A. (Euronext:TNG) and said it plans to list on the Hong Kong stock exchange. Tasly gained full rights in China, including Hong Kong and Macau, and Taiwan to HBV vaccine T101 and oncolytic cancer immunotherapeutic T601.

Transgene will transfer its 50% ownership stake in the JV -- Transgene Tasly (Tianjin) BioPharmaceutical Co. Ltd. -- to Tasly Biopharmaceuticals in exchange for $48 million in newly created Tasly shares. The partners said the shares will represent 2.53% of Tasly's pre-IPO capitalization. ...