Biologics contract development and manufacturing organisation (CDMO) AsymBio is set to secure 1.2397bn yuan (approximately $184m) from Asymchem Group, Hillhouse Qirui and other investors to support its long-term growth.
The funds will be used for AsymBio's principal business operations and drive further expansion of its manufacturing capacity.
Asymchem Group will contribute 1.05bn yuan while Hillhouse Qirui will invest 177m yuan.
Following the transaction, Asymchem Group's shareholding in AsymBio is set to rise to 83.4965%.
Hillhouse Qirui's investment is described as reflecting long-term confidence in both AsymBio and the wider biologics CDMO sector.

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