fbpx

China’s Taibang Biologic raises US$300 million, led by ADIA unit, GIC

HONG KONG : China’s Taibang Biologic Group raised US$300 million to finance growth in a fundraising led by sovereign wealth funds Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC, the biopharmaceutical firm said on Tuesday.

Apart from Platinum Orchid, a subsidiary of the United Arab Emirates’ biggest sovereign wealth fund ADIA, and GIC, new investors included state-owned China Life’s private equity arm – China Life Private Equity Investment – and Cinda Kunpeng (Shenzhen) Investment Management Co., Ltd, Taibang said in a statement.

Taibang makes and sells plasma products and was previously known as China Biologic Products Holdings, as per the statement.

The proceeds will be used to finance its expansion of plasma stations and its research and development of new products, the statement said.

The deal marks Taibang’s first equity financing transaction since the completion of its privatisation in April last year by a consortium led by Chinese private equity firm Centurium Capital.

China’s Taibang Biologic raises US$300 million, led by ADIA unit, GIC. Congratulations to the entire team for your funding. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to ashu@startuplanes.com

Tags

top