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TaiGen Sells 9% of China JV to HEC ChangJiang for $20 Million

publication date: Mar 27, 2017
South Korea's TaiGen Biotech will be paid $20 million for a 9% interest in a China JV by its partner YiChang HEC ChangJiang Pharma. The JV, formed six months ago, is developing two direct acting anti-viral drugs, one from each company, as an all-oral, interferon-free treatment for hepatitis C in greater China. The $20 million payment was pre-planned as a $20 to $40 million transaction based on the results from TaiGen's Phase II trials of furaprevir, its contribution to the JV. The payment raises the valuation of the JV to $222 million, up from $102 million initially. More details....

Stock Symbols: (TWO: 4157) (HK: 1558)

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