Updates

Hutchison China Meditech - Pre-IPO funding ahead of NASDAQ float?

January 2011

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There has been a string of positive corporate developments at HCM since our last update. The most significant has been news that the R&D division, Hutchison MediPharma, has received a private investment from Japanese conglomerate Mitsui and venture capital firm SB China Venture Capital. The two have invested US$20.1m in new convertible preference shares effectively giving them 12.2% and 7.5% of MediPharma. The new money will be used to support the continued development of its R&D programmes including that for lead candidate HMPL-004 for treatment of inflammatory bowel disease.Separately, the China Healthcare division, Chi-Med, increased indirect ownership of its Hutchison Baiyunshan joint venture from 75% to 80% for ...

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