CNEI invests $25.4m in Chinese drug developer
China New Enterprise Investment (CNEI) has acquired a 17% stake in Fudan-Zhangjiang Bio-Pharmaceutical (FDZJ) for $25.4 million, becoming the second-largest shareholder in the Shanghai based bio-pharmaceutical firm.
The China-focused growth capital investor committed $21 million earlier this year and injected an additional $4.4 million last month. It bought stakes in the company from two undisclosed state-owned enterprise...
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