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SINO BIOPHARM Spends RMB142M to Buy Shr in LaNova Medicines
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SINO BIOPHARM (01177.HK) injected its capital to the equity interests of LaNova Medicines with its self-raised funds, and established a strategic collaboration in the Mainland China region for LM-108 and various potential innovative bispecific antibody or antibody-drug conjugate (ADC) in the future, according to SINO BIOPHARM's announcement. On 18 October, LaNova Medicines announced that it completed the Series C1 financing amounting to RMB300 million, by which the raised funds would be utilized for expediting the development of clinical pipelines and the construction of innovative platforms. Pursuant to the capital increase and subscription agreement, the Group, as the leading investor in this series of financing, paid RMB142 million to LaNova Medicines, thus acquiring 4.91% equity interests in LaNova Medicines after the transaction. SINO BIOPHARM last climbed 1.53% to $3.32, with 4.1162 million shares traded, involving $13.5164 million. AAStocks Financial News |
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