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Tasly Biopharma Raises $84.5 Million in Pre-IPO Round

03:43 EDT 14 Jul 2018 | ChinaBio Today

Tasly Biopharma of Shanghai raised $84.5 million in new capital from a group of investors that included Ally Bridge. The funding is a pre-IPO round as Tasly is planning to list on the Hong Kong Exchange. The investors received a 4.5% stake in Tasly Biopharma, implying a $1.9 billion pre-IPO valuation. Tasly Biopharma is a subsidiary of Tasly Pharma. As a separate part of the transaction, Transgene transferred its half of a China drug JV to Tasly in exchange for $48 million of stock at the same valuation. More details....

Stock Symbols: (SHA: 600535) (P: TNG)

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