UK drug developer Vectura partners PE on China JV
Vectura, a UK-based drug company, has teamed up with Hong Kong-based PE investor Zendex Bio Strategy and Tianjin KingYork Group to form a joint venture that will develop respiratory products in China and other Asian markets.
KingYork, a Chinese pharma company, and Zendex will commit RMB260 million ($42 million) to Tianjin Kinovata Pharmaceutical, taking stakes of 50% and 15%, respectively. Vecutura will invest RMB150 million...
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