Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 300 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd
April 19, 2017
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Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it will receive CNY 300,000,000 in an equity round of funding on April 20, 2017. The transaction will include participation from returning investor Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) to maintain its 100% stake in the company after the transaction. The transaction was approved at the 20th session of the 5th directorate of the investor and does not need its shareholders’ approval. The amount of CNY 90,625,000 will be added to the registered capital and remaining to the capital reserve The registered capital of the company will increase from CNY 209,375,500 to CNY 300,000,000.
The company reported total assets of CNY 705,236,000, net assets of CNY 94,394,300, net profit of –CNY 43,558,400, and revenues of CNY 261,109,000 for the year ended December 31, 2016.
Zhejiang Jiuzhou Pharmaceutical Co Ltd is a China-based company mainly engaged in the production, sales and service of chemical raw materials and intermediates. The Company is committed to providing one-stop customized pharmaceutical contract development and manufacturing organization (CDMO) services to global pharmaceutical companies, biotechnology companies, scientific research institutions, and others, including small molecule chemical drugs, peptide drugs, conjugated drugs and small nucleic acid drugs. The CDMO projects served by the Company involve therapeutic areas such as anti-tumor, anti-heart failure, anti-depression, treatment of Parkinson's disease, anti-lung cancer, anti-virus, anti-diabetes, and anti-respiratory system infection.
Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 300 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd