BioCentury
ARTICLE | Financial News

Fosun's biosimilar unit to raise $190M

December 28, 2017 11:59 PM UTC

On Dec. 20, Shanghai Henlius Biotech Inc. (Shanghai, China) said it will raise RMB1.3 billion ($192.5 million) through the sale of 55.4 million shares at RMB22.71, including 14.6 million shares to its parent company Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKSE:2196), and other existing investors. Shanghai Henlius, a JV between Fosun and Henlius Biotech Co. Ltd. (Shanghai, China), is developing biosimilar and novel mAbs for cancer and autoimmune indications.

Following completion of the offering, Fosun will own a 62.4% stake in Shanghai Henlius...