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Hutchison Pharmaceuticals announces that it has received US$100 million equity investment from Baring Asia Investment Fund

 Last Update: 2021-05-02
 Source: Internet
 Author: User

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On April 8, Hutchison Pharma announced that it had reached a final agreement with Baring Asia Investment Fund to issue 100 million US dollars of new shares to Baring Asia’s related funds through private placement, at an issue price of US$30.

It is understood that Hutchison Medicine obtained all funds equivalent to 3,278,689 American Depositary Shares in this private placement to provide funding for its ongoing research and clinical development.

According to the 2020 annual results released by Hutchison Medicine in early March, Hutchison Medicine has two products on the market, namely Fruquintinib for the treatment of colorectal cancer and Sofantib for neuroendocrine tumors.

Fruquintinib was approved for marketing in my country in September 2018 and entered the National Medical Insurance Catalogue in 2019.

Sofatinib was approved by the National Food and Drug Administration in December 2020, and the unaudited sales for the next two months-January and February 2021 were US$4.

In addition, the new drug marketing application of Syvotinib has been accepted by the State Food and Drug Administration in 2020 and will be included in the priority review in July 2020.

The cooperation with Baring Asia may be more helpful to the development and expansion of Hutchison Pharma's innovative oncology drugs in the global field.

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