Shanghai Pharmaceuticals to Invest 1 Billion Yuan in Biomedical M&A Fund

MT Newswires Live01-29

Shanghai Pharmaceuticals (HKG:2607) is proposing to take part in the establishment of the Biomedical M&A Fund as a limited partner alongside various other parties and contribute 1 billion yuan to the fund, a Monday bourse filing said.

The pharmaceutical company's capital commitment represents nearly 20% of the total commitment of 5.01 billion yuan by all the partners.

The fund will be managed by executive partner Shanghai Shangshi Capital Management, which is a unit of Shanghai Shangshi (Group), the controlling shareholder of Shanghai Pharmaceuticals.

The fund has an initial investment period of four years, with an initial exit period also comprising four years.

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