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Grandhope Announces $48 Million VC Fund for Stem Cell Projects

publication date: Jul 9, 2014
Grandhope Biotech and its corporate parent, Guangzhou Zhiguang Biotech, plan to form a $48 million VC fund to underwrite stem cell and regenerative medicine projects. The projects will be carried out in conjunction with Peking University's Science and Technology Development Department. The two entities agreed to set up a stem cell/regenerative medicine research institute that will be housed at PKU. Grandhope will invest $9.5 million for a 40% stake in the entity; PKU will contribute intangibles for an equal 40% share, and the remaining 20% will be reserved for management. More details....

Stock Symbol: (SHE: 300238)

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