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Shanghai Pharmaceuticals formed a JV with Russian biopharma Biocad that will include an initial investment of $250 million and is expected to lead to a $2.8 billion capitalization. The JV will develop six Biocad monoclonal antibodies targeting cancer and autoimmune diseases for China's market, some or them novel drugs and the rest biosimilars. The initial $250 million investment will underwrite China clinical trials. Originally announced via an MOU signed last year, the partnership was formally inaugurated early this summer in a Moscow ceremony. More details....
Stock Symbol: (HK: 2605)
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