Jiangsu Hengrui Leads $100 Million Investment in US Spin-Off

Hengrui Therapeutics Inc., a New Jersey offshoot of Jiangsu Hengrui Medicine, raised $100 million in initial funding from HR Bio Holdings Limited, a JV formed by Jiangsu Hengrui and an unnamed investment company. Initially, HTI will work on US development of three oncology drug candidates from China-Hengrui. However, asserting HTI's autonomy, HTI's CEO Adam Zong told BioCentury the company will also develop its own products, either from internal R&D or partnerships. The initial capital, Zong continued, will fund proof-of-concept of the three China-Hengrui drugs and possibly a Phase III for one of them. More details.... Stock Symbol: (SHA: 600276) Share this with colleagues: // //