BioCentury
ARTICLE | Company News

Ally Bridge invests in Tasly Biopharmaceuticals

July 11, 2018 11:28 PM UTC

Tasly Biopharmaceuticals Co. Ltd. (Shanghai, China) said Wednesday it issued 75.7 million new shares, representing about 7% of the company, as it prepares for a possible IPO.

The investors, which include Ally Bridge LB Healthcare Fund, Pudong Technology (Cayman) Co. Ltd., BOCOM International Holdings Co. Ltd. (HKSE:3329) and Grand Riches Jiaheng Investment Holdings Ltd., contributed $84.5 million in cash in exchange for 4.46% of Tasly's pre-IPO capitalization. The issuance also includes shares transfered to Transgene S.A. (Euronext:TNG) in exchange for $48 million in equity as part of a deal to secure Tasly Biopharmaceuticals’ full ownership of a Transgene-Tasly JV (see ‘Tasly Biopharmaceuticals Gains Control of JV Ahead of Possible IPO’)...